Buys stake in advertising company

ROYAL Bafokeng Holding (RBH) acquired a 30 percent stake in Continental Outdoor Media alongside French company JC Decaux, which would hold the remaining 70 percent, the companies announced yesterday. Continental Outdoor Media is the largest outdoor advertising company in Africa, with advertising spots that include Gautrain stations. JC Decaux is the largest outdoor advertising company, with revenues of 2.8 billion (R38.6bn) in 2014. JC Decaux said it chose RBH for the its long-term investment approach and commitment to African markets. The deal gives JC Decaux 36 000 advertising panels in 16 countries across Africa, including Algeria, Angola, Botswana, Cameroon, Mauritius, Uganda, Tanzania, Malawi, Zambia, Zimbabwe and South Africa. RBH shares lost 1.75 percent to close at R52.81.– ANA