Regulatory News:
JCDecaux SA (Paris:DEC), the number one outdoor advertising company worldwide, has announced its entry into the Mongolian market through a joint venture agreement with Trade Development Bank Media, a fully-owned TBD (Trade Development Bank) sister company. Following the agreement, JCDecaux will own 51% of the joint venture, with Trade Development Bank Media owning the remaining 49%. TDB, which was founded in 1990, is Mongolia's oldest and largest bank, and has 45 branches throughout the country.
As part of this joint venture, JCDecaux has been awarded a 30-year contract, by the City of Ulan Bator. The contract covers the installation, upkeep and maintenance of over 200 advertising bus shelters, 150 free-standing City Information Panels and other street furniture.
Ulan Bator has 1.4 million inhabitants and is the capital of Mongolia (2.9 million inhabitants). As well as a political, business, industrial, scientific and cultural centre,Mongolia is a country with strong economic growth, with a growth rate of 11.7% in 2013. The country's GDP, which is primarily driven by the farming, industrial and mining sectors, amounted to $11.5 billion in 2013.
Mr Bat-Uul, Mayor of Ulan Bator city, said: "By 2030 Ulan Bator will become a city that receives 5 million tourists from all over the world. To achieve this goal, it is very important that we, citizens take care of its Street Furniture and appearance. Bus station is one of it, and it is starting to operate. The fact that bus stations are changing to become not only a public station, but also a service that provides comfort to the citizens, brings a new development to the city".
M. E. Dolgion, CEO of TDB Media, said: "We are very proud to have entered into this partnership with JCDecaux and to offer the City of Ulan Bator modern Street Furniture that is identical to the furniture found in other capital cities throughout the world. In addition to installing the furniture, we are going to take care of its upkeep and maintenance, for the benefit of Ulan Bator and its inhabitants. We will fulfil the great trust that the City is placing in us by involving us in the transformation of its urban landscape".
Jean-Charles Decaux, Chairman of the Executive Board, and Co-CEO of JCDecaux,said: "We are very proud to have entered into a partnership with the prestigious Trade Development Bank of Mongolia and to have earned the trust of the City of Ulan Bator. Following the successful entry into several central Asian markets (Azerbaijan, Kazakhstan and Uzbekistan), JCDecaux is now extending its operations to Mongolia, a market that has a high potential for development. We are convinced that our experience in providing innovative outdoor communication solutions to the world's most dynamic cities and to local, regional and international advertisers will ensure the success of this contract. We look forward to forthcoming opportunities in Mongolia".
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Contacts:
JCDecaux SA
Communications Department:
Agathe Albertini, +33 (0) 1 30 79 34 99
agathe.albertini@jcdecaux.fr
or
Investor Relations:
Nicolas Buron, +33 (0) 1 30 79 79 93
nicolas.buron@jcdecaux.fr
