OIO Approves Strategic Merger Of QMS NZ With Mediaworks

OIO Approves Strategic Merger Of QMS NZ With Mediaworks

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.




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