Recent acquisitions in the outdoor advertising industry include the JCDecaux SA announcement that it has entered into an agreement with APN Outdoor Group Limited to acquire 100% of APN Outdoor’s share capital by way of a scheme of arrangement to be approved by APN Outdoor shareholders and subject to Australian Competition and Consumer Commission clearance.
Under the terms of the agreement, JCDecaux will pay A$6.70 in cash for each APN Outdoor share, corresponding to an equity value of approximately A$1.119 billion.
Jean-François Decaux, Co-Chief Executive Officer of JCDecaux, said: “This acquisition is a significant milestone in JCDecaux’s history in Australia, which is the 7th largest advertising market worldwide, where we have been growing organically since 2000. APN Outdoor is very complementary to our existing street furniture assets and through this acquisition, JCDecaux will be attractively positioned to provide a compelling proposition to compete more effectively in the Australian media market where Out of Home accounts for 6% of advertising spend, of which almost 50% is digital. Finally, we are delighted to enter New Zealand, a fast-growing market.”
This move comes hot on the heels of another major move where Ooh Media purchased Adshell for a figure of A$570m.
