The American advertising company Clear Channel Outdoor Holdings Inc. has entered into an agreement with the Abu Dhabi sovereign wealth fund unit Mubadala Investment Co. to sell assets for $6.2 billion, including debt obligations. This is reported in a Clear Channel press release.
As part of the deal, Mubadala Capital, in partnership with TWG Global, will pay $2.43 per share (11% higher than the closing price on February 10). In 2025, TWG Global acquired a minority stake in Mubadala Capital.
Funds controlled by Apollo Global Management Inc. pledged to invest preferred shares as part of the deal, and a consortium led by JPMorgan Chase & Co. and Apollo provided financing.
Clear Channel shares rose 61%, increasing the company's market value to $1.1 billion. At the same time, the amount of debt is $5.39 billion.
The transaction is expected to be completed at the end of the third quarter of 2026. As part of the deal, Clear Channel will have a 45-day go-shop period to search for alternative offers. After the deal closes, Clear Channel will retain its headquarters in San Antonio, Texas.
The deal is in line with Mubadala's strategic goals aimed at expanding its portfolio in the American media sector.
In recent years, Clear Channel Outdoor has systematically divested itself of international assets in order to become an exclusively American outdoor advertising service provider. The company sold its divisions in Europe and Latin America, the UK and Scandinavia as part of a restructuring aimed at making Clear Channel more attractive to investors.
Clear Channel Outdoor Holdings, Inc. is an American multinational outdoor advertising corporation. The headquarters is located in San Antonio, Texas. Clear Channel, along with JCDecaux, are the largest companies in the field of outdoor advertising.
Mubadala Capital is the investment arm of Abu Dhabi's sovereign wealth fund Mubadala Investment Co. in the fields of lending, real estate, industry, healthcare, energy, etc. The headquarters is located in Abu Dhabi (UAE).
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