JCDecaux announced today that it has reached an agreement to sell part of its stake in APG|SGA, Switzerland's leading outdoor advertising company, to NNZ. The transaction is expected to close in the next few days.

The French group will sell 13.56% of APGISGA for 220 Swiss francs per share, generating a payment of 89.6 million Swiss francs, or around 90.3 million euros before transaction costs.

Following the transaction, NZZ will hold a 25% stake in APGISGA, making it the largest shareholder, while JCDecaux will now hold 16.44% and Pargesa Asset Management 13.86%.

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