Brazil’s Eletromidia acquires 74.65% of Ótima for US$81 million

Ótima currently operates 3,737 out of home media panels installed at bus stops in São Paulo through which some 3.5 million people flow.

RIO DE JANEIRO, BRAZIL - Eletromidia on Monday announced that it has acquired a majority 74.65% stake in Ótima, bus stop operator in the city of São Paulo, for R$416.7 (US$81) million, with R$356.9 million to be paid upfront and R$59.8 million at a later date.

Eletromidia says the acquisition is complementary to its presence in the vertical and streets sector and it now enters the urban billboard segment in the city.

The company estimates operational and administrative synergies that can generate R$107.2 million in EBITDA (earnings before interest, taxes . . .

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