20 Minutes – Apax Europe IV invests EUR 50 million, Published 23/11/2000 11:03:33

Apax Europe IV has agreed to become an investor in 20 Minutes with an investment of EUR 50 million. At the same time the current owners, Schibsted ASA and the A&A Group will invest an additional EUR 22 million and EUR 5 million, respectively. The additional capital will be sufficient to carry out the planned expansion in 20 Minutes and will be paid in according to the expansion plans.

The ownership will after the capital increase be Schibsted with 41,3%, A&A Group 29,1%, Apax Europe IV 27,8% and Management in 20Min 1,8%. Exisiting and new option program for management will dilute the main shareholders’ ownership further.