Today, on November 18, 2019, we can inform you that Polaris Media has signed final transaction agreements related to the establishment of the new media house group Polaris Media South.
The agreements have been signed between Polaris Media ASA, Agderposten Medier AS, Schibsted Norge AS and Schibsted Distribution.
After the transaction, Polaris Media ASA will become the parent company of Polaris Media South, and will consolidate Polaris Media South in its company financial statements. The transactions are expected to be completed on January 6, 2020, subject to approval by the Competition Authority.
The combined company is valued at NOK 373 million, of which Polaris Media’s investment represents 51% of the value, a total of ~ NOK 190 million.
For more information and details, see the Polaris stock exchange announcement here.