Blackstone Inc. has withdrawn from an investor group that had been exploring a possible purchase of Stroeer SE & Co., the German media company known for billboard advertising and related businesses. The departure removes one of the private equity names involved in early-stage discussions about a potential takeover.
Sources familiar with the matter say the investor group - which included I Squared - had been considering an approach for Stroeer valued at about c2.5 billion. That level of interest translated to a valuation in the mid- e244s per share for Stroeer, according to the information provided by those people.
The move by Blackstone ends its participation in the investor club that was exploring a bid together with I Squared. The parties involved have described the discussions as preliminary and private; individuals who spoke on the condition of anonymity said deliberations are ongoing but there is no certainty that I Squared will ultimately submit an offer.
Context and implications - While the concrete details of any proposed offer have not been finalized, the figures under consideration would place Stroeer's equity value in the mid- e244s per share, based on a roughly ac2.5 billion transaction size. Stroeer operates businesses including billboard advertising, and the potential transaction was centered on acquiring those media assets.
Blackstone's exit reduces the investor pool actively weighing a takeover and leaves I Squared to determine its next step. Those close to the discussions emphasized that deliberations are continuing and that it remains uncertain whether a formal bid will be launched.
Key points
- Blackstone has left the investor group that had been exploring a takeover of Stroeer.
- The investor consortium had been considering a ac2.5 billion offer, implying a mid- e244s per-share valuation.
- Stroeer's businesses include billboard advertising; I Squared is now weighing its next move amid ongoing but uncertain deliberations.
Risks and uncertainties
- There is no guarantee I Squared will proceed with a bid - deliberations are ongoing and outcomes remain uncertain.
- Blackstone's withdrawal reduces the number of investors publicly linked to the potential deal, which could affect the likelihood or structure of any future offer.
- Information about the discussions has been described as private by those speaking on condition of anonymity, limiting clarity about next steps.
The situation remains fluid. Market participants and observers will likely look for further confirmations from the parties involved about whether I Squared or another consortium will move forward with a formal proposal for Stroeer.