UPDATE 3-Germany's Stroeer weighs sale of out-of-home ad, digital content businesses
Updates throughout with details from company statement
Jan 10 (Reuters) - German advertising group Stroeer SAXG.DE has received indicative offers from private equity investors for its out-of-home advertising and digital content businesses, the company said on Friday.
The company said the offers have significantly exceeded its current market capitalization and that open-ended discussions are ongoing. Stroeer did not provide further details .
Earlier, Bloomberg News reported that Stroeer was considering a potential sale of its billboard unit, valued at about 4 billion euros ($4.10 billion).
The report said the company had drawn interest from the likes of Hellman & Friedman and KKR KKR.N. Both declined to comment.
The media group's shares jumped 19.78%.
In September 2023, Reuters reported Stroeer was considering possible options for the sale of its data-gathering business Statista.
($1 = 0.9752 euros)
(Reporting by Pretish M J and Surbhi Mirsa in Bengaluru; Editing by Vijay Kishore)
((PretishMJ@thomsonreuters.com; +91 8056974974;))
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