24 July 2012
Sydney, 24 July 2012: Clayton Utz is advising Outdoor Media Operations on its proposed acquisition of EYE Corp from Ten Network Holdings. The transaction values EYE Corp at up to A$145 million and was announced to the market on 20 July.
Outdoor Media Operations is majority owned by funds managed and advised by CHAMP Private Equity.
Pursuant to the deal, Outdoor Media Operations will acquire EYE Corp's Australian and New Zealand businesses, as well as its operations in Indonesia. The transaction supports Outdoor Media Operations' growth strategy and the increasing demand for out-of-home advertising solutions, as well as complementing its acquisition of oOh!media earlier in the year.
Mark Williamson said Clayton Utz was pleased to be continuing to support Outdoor Media Operations and CHAMP Private Equity in expanding its portfolio. Having advised CHAMP on the formation and successful fundraising for the CHAMP III Funds and on the acquisition of oOh!media earlier this year, Mark said that this transaction continued to demonstrate Clayton Utz's leading capabilities in the private equity field.