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French giant JCDecaux to buy APN Outdoor for $1.2 billion

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JCDecaux and APN Outdoor have hashed out a $1.2 billion deal for the French out-of-home advertising giant to take over the Australia business.

The deal, first revealed by The Australian Financial Review's Street talk column, gives APN Outdoor an enterprise value of $1.217 billion, a 12.9 times earnings before, interest, depreciation and amortisation multiple, pre synergies.

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Max Mason covers insolvency, courts, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com

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    Original URL: https://www.afr.com/companies/media-and-marketing/french-giant-jcdecaux-to-buy-apn-outdoor-for-12-billion-20180626-h11usq