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Schibsted ASA (SCH) - Schibsted divests Retriever for SEK 115 million

ID: 1003730
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(Thomson Reuters ONE) - Schibsted has entered into agreement to sell the fully ownedsubsidiary Retriever AB to Norsk Telegrambyrå AS and TidningarnasTelegrambyrå AB who will own 34% and 66% respectively. Totalconsideration is SEK 115 million. Schibsted expects to book a gainaround SEK 50 million as a consequence of the sale.Closing of the transaction is expected during Q3 2009. Theconsideration will at closing be adjusted for changes in net debt andworking capital.Retriever is the leading provider of media monitoring, media archivesand media analysis on a digital platform. The Swedish and Norwegianmedia archives are also included in Retriever. The company is notconsidered strategic core activity for Schibsted. Schibsted continuesthe efforts to free up capital through divestments of operations thatare not considered core activities.Contact person:Trond Berger, CFO. Tel: +47 916 86 695 Oslo, August 28 2009 SCHIBSTED ASA Jo Christian Steigedal VP Investor RelationsThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Date: 08/28/2009 - 08:45
Language: English
News-ID 1003730
Character count: 0
Firma: Schibsted
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Stadt: London


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