Rea Group Ipo Prospectus

Rea group ipo prospectus

Rea group ipo prospectus

APN Outdoor (originally standing for Australian Provincial Newspapers[1]) is an Australian outdoor advertising company based in Sydney, Australia. The company was founded by APN News & Media in 2004 when it consolidated the operations of its acquired outdoor ad firms Cody, Australian Posters and Buspak.[2][3] The company was acquired by JCDecaux in 2018.

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History[edit]

In 2011, APN News & Media sold half the business to Quadrant Private Equity, and sold the other half for A$70 million in 2013.[4] This severed business links from APN News & Media, despite retaining the name "APN", which caused some confusion in the market until APN News & Media rebranded as HT&E in 2017.[1]

The business was listed as a public company on the ASX in 2014.[5][6] At the time of listing, Quadrant retained a 20% stake in the company and management held 2.5%.[3]

Richard Herring was CEO of the company from its founding until retiring after 22 years in 2017.[7] James Warburton became CEO in 2017.[8]

Proposed merger[edit]

In 2017, APN Outdoor had planned to merge with rival outdoor advertising company oOh!media, however both sides cancelled their plans following preliminary concerns from the Australian Competition and Consumer Commission .[9]

Takeover offer from JCDecaux[edit]

In June 2018, French multinational firm JCDecaux made a takeover bid worth A$1.1 billion, suggesting APN Outdoor would complement the former's existing Australian assets.[10] The takeover was approved in late 2018, shortly after which APN Outdoor ceased trading on the ASX to become a subsidiary of JCDecaux.[11]

References[edit]

External links[edit]

Official website