Demarest advises Outfront Media in the sale of its Brazilian subsidiaries

Demarest advised Outfront Media in the sale of its Brazilian subsidiaries to JCDecaux Latin America / Corameq in the context of the overall transaction, comprising the sale of Outfront Media Inc.'s business in Latin America for the total amount of US$82 million.

Outfront Media agreed to sell its Latin American business to JCDecaux Latin America / Corameq for US$82 million. Outfront Media's Latin America business cover Mexico, Chile, Uruguay, Brazil and Argentina.

Through this acquisition, JCDecaux Latin America will increase its presence in Latin America's outdoor advertising business and Outfront Media will concentrate its operation on markets where the company is the leadership.  The outdoor business is especially challenging in São Paulo, where municipal legislation imposes a number of restrictions to the placing of outdoors in the streets.

Lead partner from Demarest: Paulo Rocha - M&A

All the Demarest's lawyers involved:

Senior Associate - Adriana Chakour - M&A

Associate - Beatriz Dias Bistulfi - M&A

Associate - Natália Araújo de Carvalho - M&A

Other law firms involved:

Counsel to Outfront Media:

Cravath, Swaine & Moore LLP, United States of America

Ritch, Mueller, Heather y Nicolau, S.C., Mexico

Claro & CIA, Chile

Ferrere Abogados, Uruguay

Allende & Brea Abogados, Argentina

Financial and other advisers

Citigroup Global Markets Inc.

Relevant jurisdictions: Mexico, Chile, Uruguay, Brazil and Argentina.

Governing law: State of New York

Jurisdiction for dispute resolution: Arbitration Rules of the International Chamber of Commerce, in Geneva, Switzerland or other location agreed by the parties.