Acquisition Overview
I Squared Capital has entered into a Scheme Implementation Agreement to acquire all issued shares of oOh!media Limited (ASX:OML) at a cash price of A$1.70 per share. The consideration comprises A$1.68 cash per share payable through the scheme of arrangement together with an interim first‑half 2026 dividend of 2 cents per share, bringing the total cash offer to A$1.70 per share.
The transaction values oOh!media’s equity at approximately A$898 million (US$631 million) and implies an enterprise value of roughly A$1.04 billion (US$733 million). The offer price reflects a 100 % premium to oOh!media’s closing share price of A$0.85 on 28 April 2026.
oOh!media operates a network of more than 30,000 digital and static advertising assets across Australia and New Zealand, covering roadside billboards, street furniture, rail and transit networks, airports and retail environments.
Senior Partner Harsh Agrawal of I Squared Capital described the target as a market‑leading business with high‑quality assets, long‑term contractual foundations and attractive growth opportunities. oOh!media Chair Philippa Kelly said the board reached the agreement after a comprehensive and competitive process.
The deal remains subject to shareholder approval, court sanction, regulatory clearances and an independent expert’s conclusion. Completion is expected in the fourth quarter of 2026.
I Squared Capital, founded in 2012, manages over US$60 billion in assets and has maintained a Sydney office since 2022, with investments across Australian infrastructure platforms in energy, environmental infrastructure, renewables, and transport and logistics. JP Morgan is acting as financial advisor to I Squared, while White & Case serves as legal counsel.