JCDecaux: to acquire APN Outdoor
(CercleFinance.com) - JCDecaux announces an agreement with APN Outdoor Group Limited for the acquisition of 100% of its capital.
Subject to regulatory authorisations, the deal should be finalised by the end of 2018.
The French group will offer 6.70 Australian dollars in cash per APN Outdoor share, meaning an 18% premium over the "undisturbed" closing price of 19 June, representing approximately 714 million euros, with a 2018 EV/Ebitda multiple of 12.9x before synergies.
As an outdoor advertising group operating in Australia and New Zealand, APN Outdoor mainly operates on the segments of the large formats, as well as land, rail and air transport. It will therefore round out JCDecaux's street furniture assets.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Subject to regulatory authorisations, the deal should be finalised by the end of 2018.
The French group will offer 6.70 Australian dollars in cash per APN Outdoor share, meaning an 18% premium over the "undisturbed" closing price of 19 June, representing approximately 714 million euros, with a 2018 EV/Ebitda multiple of 12.9x before synergies.
As an outdoor advertising group operating in Australia and New Zealand, APN Outdoor mainly operates on the segments of the large formats, as well as land, rail and air transport. It will therefore round out JCDecaux's street furniture assets.
Copyright (c) 2018 CercleFinance.com. All rights reserved.