Abu Dhabi’s Mubadala Capital, in partnership with US private equity firm TWG Global, has entered into a definitive agreement to acquire US-based Clear Channel Outdoor Holdings. The all-cash transaction is valued at approximately $6.2 billion, marking a significant move by the Emirati sovereign wealth fund’s subsidiary into the global advertising market.
Deal Structure and Premium
The investor group will purchase 100 percent of the New York Stock Exchange-listed company’s outstanding shares for $2.43 each. This price represents a substantial 71 percent premium over Clear Channel’s unaffected stock price before media speculation about a potential deal emerged on October 16, 2025.
Upon completion of the transaction, Clear Channel’s shares will be delisted from the public market.
A Boost for Future Growth
The acquisition is poised to provide Clear Channel with enhanced financial stability and resources to pursue long-term strategic objectives. The company plans to maintain its headquarters in San Antonio, Texas.
“The transaction will strengthen our financial flexibility by reducing debt and increasing cash flow to invest in the business. It will position us for the next phase of long-term growth,” said Scott Wells, CEO of Clear Channel.
Path to Completion
The deal has received unanimous approval from Clear Channel’s board of directors. It is expected to close by the end of the third quarter of 2026, pending customary regulatory approvals and conditions.
As part of the agreement, Clear Channel is permitted a 45-day “go-shop” period, allowing it to actively seek and consider alternative acquisition proposals. Debt financing for the deal has been secured from a consortium led by JPMorgan Chase Bank and Apollo Funds.
About Mubadala Capital
Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a sovereign wealth fund of the Government of Abu Dhabi. It manages over $430 billion in assets across its portfolio. In 2024 alone, its parent company, Mubadala, deployed AED 119 billion ($32 billion) in capital, showcasing a nearly 34 percent increase from the previous year and delivering an annualised return of over 10 percent for the past five years.
Source: AGBI
