Acquisition of a 50% Interest in APN Outdoor Joint Venture
Quadrant and APN News and Media have formed a 50 / 50 Joint Venture to purchase APN Outdoor for an enterprise value of $272 million. APN Outdoor is the market leader in the Australian outdoor advertising industry, a sector that is experiencing strong growth in an evolving advertising and media landscape.
The Outdoor JV will combine APN’s operational and media expertise with Quadrant’s strategic capabilities and additional capital. The Outdoor JV will be well capitalised with a mandate to capitalise on many organic growth opportunities including digitisation together with potential synergistic acquisitions.
As with many previous Quadrant investments, the APN Outdoor JV represents an investment in the market leader of a growth industry with a mandate to pursue revenue and earnings growth.
Writen by Global Administrator, 14/03/2016 News