30 May 2024
NZZ is acquiring a total stake of 25% in APG|SGA AG from the existing shareholders, JCDecaux SE and Pargesa Asset Management S.A. (a wholly-owned subsidiary of the Belgian CNP Group). A corresponding agreement has been signed between the parties. The shares are being acquired at a price of CHF 220 per share. The transaction is expected to be completed in the coming days.
Upon completion of the transaction, NZZ will hold a 25 per cent stake in the company, JCDecaux SE a 16.44 per cent stake and Pargesa Asset Management S.A. a 13.86 per cent stake.
Dr Daniel Hofer, Chairman of the Board of Directors of APG|SGA AG: “Over the past few months, the company’s Board of Directors has, as part of a comprehensive process, examined various options regarding the future composition of the company’s shareholder base, following the announcement by the two existing, long-standing anchor shareholders of their intention to sell or reduce their shareholdings. The acquisition of a 25 per cent stake by NZZ from JCDecaux SE and Pargesa Asset Management S.A. represents a compelling outcome of this process for the company and all its stakeholders. With its high standards of quality, its long-term and value-oriented approach, and its excellent knowledge of the Swiss market, the Board of Directors considers NZZ to be a welcome new shareholder at APG|SGA. It is intended that the Board of Directors will propose a representative of the NZZ for election to the Board at the next Annual General Meeting.”
Isabelle Welton, Chair of the Board of Directors of NZZ: “NZZ’s strategic focus is on its core business of journalism with a liberal outlook, supported by revenue from subscriptions and advertising. Through this transaction, the NZZ is gaining a stake in the growing out-of-home advertising market. APG|SGA and the NZZ are two premium brands that are firmly established in the Swiss market, each with a history stretching back over a century. We speak the same language and share the same core values; we stand for quality, relevance and the highest level of credibility. The increasing digitalisation of the advertising markets offers both the NZZ and APG|SGA additional opportunities for growth.”