ARN Media Ltd Sells Hong Kong OOH Business for HK$30.2M
Key points
- Sale of Cody HK to DFI Retail Group for HK$30.2M
- Transaction supports ARN's focus on Australian operations
- Expected completion in H2 2026
Full summary
ARN Media Limited has announced the sale of its Hong Kong out-of-home advertising business, Cody Outdoor International (Hong Kong) Limited and Buspak Advertising (Hong Kong) Limited (collectively, Cody HK), to DFI Retail Group for a total consideration of HK$30.2 million, equivalent to approximately A$5.6 million. The transaction is expected to complete in the second half of 2026 and is part of ARN's strategy to divest non-core assets and focus on its core Australian operations. The sale will release A$30.5 million in bank guarantees and is expected to strengthen ARN's balance sheet.
Outlook
ARN expects the sale to support its strategic focus on Australian operations and enhance long-term shareholder value.
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