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Lease law changes trigger for $200 million investment — JCDecaux

May 23, 2014, 15:25 UTC+3
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ST. PETERSBURG, May 23. /ITAR-TASS/. World-leading outdoor advertising company JCDecaux has warned that Russian operations would be questionable unless leasing terms were lengthened by law from 10 years to between 15 years and 20 years.

This was the trigger it required for prospective investment of $100-200 million in Russian advertising constructions over two to three years, chief executive Jean-Francois Decaux told ITAR-TASS at the St. Petersburg International Economic Forum.

But leaving Russia was not on the agenda, he said, in a market where JCDecaux holds 25% of largest outdoor advertising operator Russ Outdoor.

JCDecaux Group operates in more than 60 countries and 3,700 cities, reporting 2013 revenue of about €2.7 billion.

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