I Squared Capital is acquiring ASX-listed oOh!media in a transaction valuing the Australian and New Zealand out-of-home media platform at an enterprise value of A$1.04bn (€630m).
Under the scheme of arrangement, the global infrastructure manager is taking oOh!media private by offering shareholders A$1.70 per share in cash, implying an equity value of approximately A$898m.
The offer represents a 100% premium to the company’s undisturbed closing share price of A$0.85 on 28 April 2026 – the market price prior to any takeover speculation affecting the stock.
Sydney-headquartered oOh!media operates a network of more than 30,000 digital and static assets across Australia and New Zealand, spanning roadside billboards, street furniture rail and transit networks, airports, retail environments and other public spaces.
Harsh Agrawal, senior partner at I Squared Capital, said, “oOh!media represents the type of infrastructure platform we seek to invest in – a market-leading business with high-quality assets, long-term contractual foundations and attractive growth opportunities.
“We look forward to partnering with the management team to build on the company’s market leadership, accelerate the digitalisation of the network and create long-term value for customers, communities and our investors.”
Philippa Kelly, oOh!media chair, said: “After a comprehensive and competitive process, the board is pleased to have reached a binding agreement with I Squared. I Squared’s focus on optimising the full value of the network aligns with the strategy of our CEO James Taylor and our experienced leadership team.”
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