Herbert Smith Freehills advises oOh!media on A$1.6 billion merger with APN Outdoor

Herbert Smith Freehills is advising oOh!media Limited on its merger with APN Outdoor, a deal which will create a leading, diversified media group with a market capitalisation of A$1.6 billion. 

The merger combines two out-of-home media companies with complementary long-term assets across classic, digital and online platforms, including an attractive and industry-leading portfolio of digital assets. The merged group will have an enhanced geographic presence across Australia and New Zealand with 8,985 digital and 63,200 classic screens and panels across metropolitan and regional locations.

The two companies will merge via an all-scrip scheme of arrangement to be implemented on or around April 2017, with oOh!media shareholders to receive 0.83 APN Outdoor shares for each oOh!media share held.

oOh!media General Counsel and Company Secretary Kate Eastoe spearheads the internal legal team, with the Herbert Smith Freehills team being led by partners Rebecca Maslen-Stannage, Mark Currell, Liza Carver and Michael Gonski, with senior associate Malika Chandrasegaran and Lauren Selby, Calvin Shaw, Rommo Pandit, Claire Koller-Smith, Joshua Santilli, Alice Gardoll, Hilary Starr and Timothy Gonski.

The Herbert Smith Freehills team advised oOh!media across a range of M&A and competition aspects related to the transaction.

Rebecca Maslen-Stannage said, ‘We love working with the oOh!media team – they apply in the deal context the same energy that has led to the growth of their business. It’s fun and inspiring to work with such an engaged and dynamic team.’

Kate Eastoe, oOh!media’s General Counsel and Company Secretary, said ‘We’ve been really impressed with the team’s ability to provide clear and technically accurate advice which concurrently incorporates a deep understanding of the rapidly changing media sector. The transaction is a credit to the commitment and capability of every member of the deal team at HSF.’

Highbury Partnership and Macquarie Capital are acting as financial advisers to oOh!media. Cadence Advisory and UBS are acting as financial advisors to APN Outdoor, while Gilbert + Tobin is acting as its legal advisor.

This deal is another example of Herbert Smith Freehills’ market-leading work in the technology, media and telecommunications sector.