I Squared Wins Bidding War for Australia's oOh!media with $735 Million Deal
The cash deal values oOh!media at about A$898 million and needs shareholder, court and regulatory approvals before closing in Q4 2026.
- On Monday, Australian outdoor advertising company oOh!media Limited agreed to be acquired by infrastructure investor I Squared Capital in a deal valued at A$1.04 billion, including debt.
- The offer represents a premium of approximately 100% to oOh!media's April 28, 2026, closing share price of A$0.85; I Squared prevailed after a competitive process involving rival suitors Pacific Equity Partners, Bain Capital, and Oaktree Capital.
- Shareholders will receive A$1.70 per share in cash, comprising A$1.68 in scheme consideration and a 2-cent interim dividend. Senior Partner Harsh Agrawal at I Squared Capital said oOh!media offers "high-quality assets" and "attractive growth opportunities."
- Chair Philippa Kelly said the Board unanimously recommended the offer following a "comprehensive and competitive process." Completion is expected in the fourth quarter of 2026, pending regulatory and shareholder approvals.
- I Squared manages over $60 billion in assets globally and plans to accelerate digitalization of oOh!media's network. The company operates more than 30,000 digital and static assets across Australia and New Zealand.
14 Articles
14 Articles
Ooh Media deal takes Unmade Index to six-month high
The Unmade Index ended the day at its highest point in nearly six months after being lifted by the news that Ooh Media is to be sold to private equity. The index rose by 1.52% to close on 417.4 points. Ooh closed up 4.4% with its share price hitting $1.66 after I Squared Capital agreed to buy it for $1.70 per share in a deal due to complete before the end of the year. Ooh Media ended the day with a market capitalisation of $877m, its best in nea…
I Squared wins bidding war for Australia's oOh!media with $735 million deal
I Squared Capital agrees $634m take-private of Australia’s oOh!Media
US infrastructure investor I Squared Capital has agreed to acquire Australian outdoor advertising company oOh!Media for AUD898m ($634m), bringing an end to a months-long auction that attracted interest from several major private equity firms, according to a report by Bloomberg. Funds managed or advised by I Squared and its affiliates will acquire all outstanding shares for AUD1.70 in cash, according to the terms announced on Monday. The offer re…
Coverage Details
Bias Distribution
- 78% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
