June 20 (Reuters) - French advertising company JCDecaux JCDX.PA said on Wednesday it had submitted an indicative and non-binding offer to buy Australia's APN Outdoor Group Limited APO.AX .
The company, which entered the Australian market in 2000 ahead of the Olympic Games with a street furniture contract in Sydney, said it offered 6.52 Australian dollars ($4.82) per share in cash, representing a premium of 30 percent over APN Outdoor's six-month volume-weighted average price.
The offer is worth approximately 1.1 billion Australian dollars ($813.34 million).
APN is an Australian out-of-home media company, primarily operating in the large-format billboard segment as well as in the transit, rail and airport sectors, JCDecaux said.
"APN Outdoor would be complementary to JCDecaux's existing out-of-home media assets in Australia, which are primarily in the street furniture segment," the company said.
Advised by Goldman Sachs (NYSE:GS) in this transaction, JCDecaux said no agreement had been reached between the parties yet and that there was no certainty any transaction would take place.
($1 = 1.3524 Australian dollars)