JCDecaux makes AUD1.1bn bid for Australia’s APN Outdoor Group

APN primarily operates in the large format billboard segment, as well as in the transit, rail and airport segments. JCDecaux pointed out that Australia is the seventh largest advertising market worldwide, with a growing share of out-of-home advertising having now reached 6% of advertising spend, of which almost 50% is digital.

The company said APN would be complementary its existing out-of-home media assets in Australia, which are primarily in the street furniture segment. The group entered the Australian market with the street furniture contract of Sydney before the Olympic Games in 2000.

It currently has a large portfolio of premium assets in Australia’s largest metropolitan areas which it said would significantly enhance APN Outdoor’s existing network.

"At this early stage, no agreement has been reached between the parties, and there is no certainty that the proposal will result in any transaction," JCDecaux said.

The proposal is subject to due diligence, applicable regulatory approvals and other customary conditions.