JCDecaux to acquire APN Outdoor Group

JCDecaux has reportedly agreed to acquire Australia’s APN Outdoor Group for $830m in a move that would give the international advertiser a larger footprint in Australia and New Zealand.

The takeover offer was subject to APN shareholder and Australian regulatory approval and expected to be completed before the end of 2018. Jean-François Decaux, co-chief executive of JCDecaux has said in a media statement that APN Outdoor is complementary to the global OOH major’s 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.