Ann: ASSET: IFT: Agreement to sell iSite Limited to QMS Media Limited

• Release Date: 01/12/15 11:07
• Summary: ASSET: IFT: Agreement to sell iSite Limited to QMS Media Limited
• Price Sensitive: No
• Download Document  1.08KB

					IFT
01/12/2015 11:07
ASSET
NOT PRICE SENSITIVE
REL: 1107 HRS Infratil Limited

ASSET: IFT: Agreement to sell iSite Limited to QMS Media Limited

Infratil has entered into an unconditional agreement to sell its 100%
shareholding in iSite Limited to QMS Media Limited.

Infratil expects its net cash proceeds from the sale to amount to
approximately NZ$49 million. The final proceeds are dependent on post-closing
adjustments which will be finalised at or after the completion date.

Completion is scheduled for 10 December 2015.

Background
iSite is one of the largest outdoor advertising companies in New Zealand
focusing on providing effective and intelligent media campaigns with
unparalleled reach across multiple platforms including billboards, national
transit network and two of New Zealand's four major airports.

iSite was acquired by Infratil from Wellington International Airport in 2011.
As at 30 September 2015, the book value of the investment was $18 million.

Marko Bogoievski
Chief Executive Officer
Infratil Limited
End CA:00274435 For:IFT    Type:ASSET      Time:2015-12-01 11:07:49