(Reuters) – German advertising group Stroeer is mulling a potential 4 billion euros ($4.10 billion) sale of its billboard unit, Bloomberg News reported on Friday.
The company is working with advisers and has received interest for its billboard unit from private equity firms including Hellman & Friedman and KKR, the report said, citing people familiar with the matter.
Other buyout firms such as CVC Capital Partners and EQT AB had previously considered deals related to Stroeer, the report added.
The media group’s shares jumped 20.22% at 4:45PM GMT.
Stroeer did not immediately respond to a Reuters request for comment. Hellman & Friedman and KKR declined to comment.
In September 2023, Reuters reported that Stroeer was considering possible options for the sale of its data-gathering business Statista.
($1 = 0.9752 euros)
(Reporting by Pretish M J and Surbhi Mirsa in Bengaluru; Editing by Vijay Kishore)
