Clear Channel Outdoor (CCO) announced it has entered into a definitive agreement to sell its business in Spain to Atresmedia. The expected purchase price from the transaction of EUR 115M, or approximately $135M, is subject to customary adjustments. The company intends to use the anticipated net proceeds from the sale, after payment of transaction-related fees and expenses, to further reduce its outstanding debt. The transaction is expected to close by early 2026 upon satisfaction of regulatory approval. The company will hedge the anticipated proceeds from the sale of its business in Spain to mitigate the risks related to foreign currency fluctuations.
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