In an exciting new development, CEO Outdoors’ President and Chief Executive Officer, Antonio Alonso, has announced the proposed acquisition of CBS Outdoor International by Platinum Equity, a global mergers and acquisition specialist.
The astonishing $225 million deal includes all of CBS Outdoor activities in the UK as well as 13 other markets in Europe and China. In the UK, CBS Outdoor holds the sought-after advertising contracts for the London Underground and the Westfield London and Stratford City shopping complex.
Platinum Equity is an investment firm, founded in 1995, with a highly specialised focus on business operations. Its chief executive, Tom Gores, says, "We are fortunate to have developed a great relationship with CBS throughout this process. With our international reach and operational resources we can move quickly to complete a seamless transition and create real value in this business."
Antonio Alonso has been swift to reassure CBS’s clients that, although this is an exciting development for them, they remain very focused on operating 'business as usual', and remain 100% committed to ensuring that their clients continue to receive the high level of service they have come to expect.
