Platinum Equity Affiliate Offers To Buy CBS Outdoor Int'l For $225 Mln

(RTTNews) - An affiliate of Platinum Equity Tuesday proposed an irrevocable binding offer of about $225 million to acquire the assets of CBS Outdoor International, a wholly owned subsidiary of CBS Corp. (CBS, CBS.A).

CBSO International provides custom media solutions to outdoor advertising agencies and direct clients in the U.K, Ireland, France, Italy, Netherlands, Spain and China.

"With our international reach and operational resources we can move quickly to complete a seamless transition and create real value in this business, " said Tom Gores, Platinum Equity Chairman and CEO. The proposed transaction is subject to completion of works council consultation and other conditions.