JCDecaux Acquires OOH in
Australia and New Zealand
JCDecaux SA, the number one outdoor advertising company worldwide, has entered into an agreement with APN Outdoor Group Limited (“APN Outdoor”). JCDecaux will pay A$6.70 in cash for each APN Outdoor share, corresponding to an equity value of approximately A$1.119 billion / €0.714 billion and a FY18 EV/EBITDA multiple of 12.9x pre synergies .
Jean-François Decaux, Co-Chief Executive Officer of JCDecaux, said: “This acquisition is a significant milestone in JCDecaux’s history in Australia.” This is the 7th largest advertising market worldwide, where Decaux had been building and growing organically since 2000.
According to Jean-Francois Decaux, APN Outdoor is complementary their existing street furniture. Jean-Franciois goes on to say, “JCDecaux will be attractively positioned to provide a compelling proposition to compete more effectively in the Australian media market where OOH accounts for 6% of advertising spend, of which almost 50% is digital.”
APN Outdoor has Out-of-Home in Australia and New Zealand, where they primarily operate large format billboards, along with transit, rail and airport segments. ,The acquisition complements Decaux’s existing street furniture assets in the markets.