QMS Media Limited is pleased to confirm that it has received consent from the Overseas Investment Office NZ to undertake the strategic merger of its New Zealand out-of-home, digital media and production business (QMS NZ) with MediaWorks NZ (MediaWorks).
The merger, which was announced to market in December 2018, will establish the largest multi-media advertising group in New Zealand.
QMS and MediaWorks will now work towards achieving completion of the merger, which is expected to occur in the next 4-6 week period. Upon completion, QMS expects to receive a capital return of approximately A$35 million and have a 40% shareholding in the merged entity.
