Ströer SE considers selling core ad business for $4.1 billion, Bloomberg reports

Investing.com -- German media group Ströer SE & Co. is reportedly mulling over a potential sale of its central advertising business, Bloomberg reported on Friday.

The sale could potentially be worth around €4 billion ($4.1 billion), the report said, citing sources familiar with the situation.

Based in Cologne, the company is currently working with advisers and has reportedly received interest from various private equity firms for its billboard unit.

Among those showing interest are Hellman & Friedman and KKR & Co (NYSE:KKR ), the report added.

In the past, other buyout firms such as CVC Capital Partners (WA:CPAP ) Plc and EQT AB (ST:EQTAB ) have also considered deals in relation to Ströer, Bloomberg said.

The report further added that some potential suitors had previously explored taking the company private but failed to agree on valuation and lacked interest in the non-core businesses.

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Source: Investing.com