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APN Outdoor Group Announces New Zealand Overseas Investment Office Approval Received

04 Oct 2018  |  16:56:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: New Zealand Overseas Investment Office Approval Received

APN Outdoor Group announced that the Overseas Investment Office provided consent under the Overseas Investment Act 2005 (NZ) (and associated regulations) to the proposed acquisition of a 100% interest in the Company by JCDecaux SA, via its wholly owned subsidiary JCDecaux ANZ Pty, by way of a scheme of arrangement (Scheme). The Company updated that its Board of Directors continues to unanimously recommend that the shareholders vote in favour of the Scheme at the upcoming Scheme Meeting to be held on 15 October 2018, in the absence of a superior proposal and subject to the Independent Expert continuing to conclude that the Scheme is in the best interests of the shareholders.

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