TGS Baltic has advised Clear Channel Outdoor Holdings on the sale of its Europe-North out-of-home advertising segment to Bauer Radio Limited. Squire Patton Boggs, AG Law Limited, Cirio Law Firm, Kromann Reumert, Wikborg Rein, Castren & Snellman, Perez-Llorca, Reichlin Hess, Reed Smith, Deloitte and Herbert Smith Freehills, CMS, Norton Rose Fulbright, and Paczewski Tropaczynski reportedly advised the sellers as well.
The transaction, with an expected value of USD 625 million, pending adjustments, remains contingent on regulatory approvals.
Bauer Radio Limited is a subsidiary of Bauer Media Group, a European media business focused on print, digital publishing, audio, and entertainment.
Clear Channel Outdoor Holdings operates in the out-of-home advertising industry.
The TGS Baltic team included Lativa-based Partner Andra Rubene and Senior Associates Kaspars Treilibs and Rudolfs Vilsons, Estonia-based Partner Kadri Kallas, Counsel Maris Vutt, and Associates Helena Kuuse and Mirko Kikkamagi, and Lithuania-based Partners Dalia Tamasauskaite-Zliene and Associates Auguste Linauskaite and Ruta Tikuisyte.
TGS Baltic did not respond to our inquiry on the matter.
