JCDecaux: proposal to acquire 100% of APN Outdoor Group
(CercleFinance.com) - JCDecaux has submitted an indicative proposal to acquire 100% of the capital of APN Outdoor Group Limited.
The offer is made on the basis of its current scope, via a Scheme of Arrangement, for 6.52 Australian dollars per share in cash, meaning a premium of 30.0% on the weighted average share price over the past 6 months, approximately corresponding to 1.1 billion Australian dollars, or 0.7 billion euros.
APN Outdoor Group Limited is a leader in outdoor advertising in Australia. The company mainly operates in large format segments as well as in land, rail and airport transport.
"APN Outdoor would be complementary to JCDecaux's existing out-of-home media assets in Australia, which are primarily in the street furniture segment," JCDecaux said.
"At this early stage, no agreement has been reached between the parties, and there is no certainty that the Proposal will result in any transaction."
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The offer is made on the basis of its current scope, via a Scheme of Arrangement, for 6.52 Australian dollars per share in cash, meaning a premium of 30.0% on the weighted average share price over the past 6 months, approximately corresponding to 1.1 billion Australian dollars, or 0.7 billion euros.
APN Outdoor Group Limited is a leader in outdoor advertising in Australia. The company mainly operates in large format segments as well as in land, rail and airport transport.
"APN Outdoor would be complementary to JCDecaux's existing out-of-home media assets in Australia, which are primarily in the street furniture segment," JCDecaux said.
"At this early stage, no agreement has been reached between the parties, and there is no certainty that the Proposal will result in any transaction."
Copyright (c) 2018 CercleFinance.com. All rights reserved.