Gilbert + Tobin is advising APN Outdoor Group Limited on its multi-billion dollar merger of equals with oOh!media Limited.
The merger brings together two significant players in out-of-home and digital advertising in the Australian advertising market, creating an organisation with a pro forma market capitalisation of approximately $1.6 billion.
The transaction will be implemented via an all-scrip scheme of arrangement, with APN Outdoor shareholders holding 55% of the merged group and oOh!media shareholders holding the remaining 45%.
Gilbert + Tobin is advising APN Outdoor on all aspects of the transaction, including transactional and competition advice. The scheme is anticipated to be implemented in April 2017.
Partner, Rachael Bassil, said the Gilbert + Tobin team had been very active in M+A transactions throughout 2016 and this transaction further cemented the firm’s market-leading position.
“We are very pleased to have acted for APN Outdoor on this significant transaction and to continue on their successful journey since IPO.”
This merger follows APN Outdoor’s acquisitions of the Metrospace and iOM businesses earlier this year, on which Gilbert + Tobin also advised.
Peter Cook and Rachael Bassil led the team from Corporate together with Gina Cass-Gottlieb in Competition. Lawyers assisting were Alastair Corrigall, Olivia Blakiston and Madeleine Brett-Williams (Corporate Advisory) and Jennifer Barron (Competition + Regulation).
Gilbert + Tobin’s M&A team consistently advises on the largest deals in the market, including advising Qube in relation to the A$12.6 billion consortium bid for Asciano (Australia’s largest M&A deal to date in 2016), the A$10.2 billion TransGrid deal, the $1 billion scheme proposal between SAI Global and Casmar Holdings and the $741 million scheme proposal between Cover-More Group and Zurich Insurance Group. In 2015, the M&A team acted on four of the five largest M&A deals announced in Australia.