Ex-Heinz Boss Moves to Privatise Australasian Media Group

29 January 2007

AUCKLAND: Sir Anthony O'Reilly, former Ireland rugby international, ex-ceo of H J Heinz, and these days a global media mogul, has made a second attempt to acquire the stock he doesn't already own in APN News & Media - a major publisher whose interests extend across Australia and New Zealand.

In cahoots with US private equity firms Providence Equity Partners and Carlyle Group, O'Reilly upped his earlier offer for the remaining 60% of APN's shares [WARC News: 27-Oct-06] to A$6.05 per share - thereby valuing the company at around A$3.8 billion ($2.94bn; €2.27bn; £1.50bn).

If the offer is accepted, O'Reilly's holding company Independent News & Media will hold between 35%-40% of the privatised company with Providence and Carlyle equally splitting the remaining shares.

Data sourced from nzherald.co.nz; additional content by WARC staff