The agreement is subject to several conditions precedent, including South African regulatory approvals, but is expected to close as expected.
The company announced on Monday 12 October 2009 that if this transaction is successful, Barry Sayer, chief executive of Clear Channel United Kingdom, would be returning to South Africa to join Bazil Lauryssen, MD of INM Outdoor and the rest of the highly successful INM team, as the company's chief executive.
