oOh!media wins battle for HT&E’s Adshel with $570mn bid

The Australian OOH major is lauching an equity raising to fund the purchase

oOh!media has won the battle for Here, There & Everywhere's Adshel with a $570 million all-cash bid, beating rival APN Outdoor. The Australian Financial Review reports that oOh!media will launch an equity raising, comprised of a $320 million rights issue, to fund the purchase.

Credit Suisse and CLSA advised HT&E, while Highbury Partnership and Macquarie tended to oOh!media.

CMO reports that The successful bid from oOh! Media ends months of fierce bidding for the Adshel business between oOh!Media and its rival, APN Outdoor Group, itself the subject of a $1.09 billion acquisition by JCDecaux.