jcdecaux takes top spot in australian billboard market with $830 million apn buy

by:YEROO     2019-08-26
SYDNEY/PARIS (Reuters)-
De Gao of France (JCDX. PA)
An agreement was reached to acquire the Australian billboard owner APN Outdoor Group APO.
Added a sweet AX $1. 12 billion ($830 million)
The offer is part of a rush to consolidate in the tightly controlled industry of soaring revenue.
JCDecaux will become the largest outdoor advertising company in Australia, offering double in digital advertising boards
Sales growth and \"Out-of-
Out of the top five cities, 93% of them went through the Home ads.
The proposed acquisition will be
Since its listing in 2001, the company has been the largest holding company in France and has added its business in Australia, which regularly handles advertising at bus shelters.
The deal remains to be supported by shareholders and approved by the regulatory and competition authorities.
Australia is seventh in the world.
This is the biggest advertising market, Degao said.
In a series of transactions
Just a day before APN was accepted, the Australian company lost to a bigger competitor! media (OML. AX)
In the bidding war for the bus shelter company Adshel, the company is the first4 player HT&E (HT1. AX).
French advertisers will pay $6.
70 cash per share, one or two.
The initial offer to receive lukewarm responses from APN and 4 increased by 8%.
4% higher than the closing price of APN $6. 42.
\"We think the deal is positive for the company, because JCDecaux tends to get better yields in a more consolidated market,\" said Liberum analyst, the deal should be largely his \"buy-in\" rating on JCDecaux shares.
APN shares, up to nearly double
The year high benefited from the pursuit of German high, up 0.
Tuesday\'s market fell 3%.
As traders were wary of competition regulators and priced at 30 cents, they were still below the offer --per-
APN plans to pay dividends before the transaction is completed.
Degao\'s share price remained stable and rose slightly by 0. 5% to 28. 98 euros.
In Australia, there are four companies that control almost all industries worth $0. 66 billion, and strict municipal regulations limit the supply of billboards, which has forced companies to spend money to boost market share.
Liberum pointed out that the market share of the merged entity will be about 35%, below the regulatory threshold of 40%.
\"The JCDecaux program is an attractive one.
APN chairman Doug Flynn said in a statement that he suggested the deal would be \"attractive\" to shareholders \".
The French company has been looking for possible deals worldwide before buying Australia.
Jean-President
Charles Deco is considering a takeover of a US competitor.
Decao 23 generation.
8% of Asian market revenue last year
China is the largest market in the Pacific.
APN has 125 billboard websites in Australia and New Zealand.
According to Morgan Stanley, with less eye-catching and advertising revenue from traditional media such as newspapers and television, the Australian outdoor market grew by 6% in 2017, and revenue has increased by 10% since 2018.
\"We have a positive attitude towards the industry --
Structural growth, the acquisition bid is lower than the previous peak cycle multiple, so it is a relatively cost-effective purchase, \"said Mathan Somasundaram, portfolio strategist at stock broker blue ocean stock.
The Outdoor Media Association said in its 2017 reportof-
Home Advertising Agency 5.
A total of $ 9%.
Advertising spending reached 1 billion, and in the top five cities, Australia\'s advertising spending reached nine out of ten.
Australian Competition and Consumer Council that blocked APN purchases last year!
The media, citing competition, said by email that the company plans to review the acquisition of JCDecaux and the transaction of Adshel.
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