APN Outdoor spends $32m acquiring Queensland and Victorian competitors

Alex Hayes

July 14, 2016 9:00

APN Outdoor has spent more than $32m to buy up competitors Metrospace and iOM, giving the company 240 more billboards across Victoria and Queensland.

The listed outdoor company (ASX:APO) announced last night it had completed the deals which see it pay an initial $16m for iOM’s 130 sites in Victoria and between $16.3m and $19.5m for Metrospace’s boards in Queensland.

In the announcement the company said it was also looking at extending its debt facilities by a further $20m as it looks to accelerate its digital roll-out program, and assesses additional acquisitions.

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Alex Hayes

Alex Hayes worked for Mumbrella from 2013 to 2017 in roles including editor and head of Mumbrella Bespoke.

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