20 Minutes to launch in Paris, Published 08/02/2002 11:12:32

The company 20 Minutes France SAS will be established with capital of euro 35 million. The company is to be owned 50% by Schibsted/20 Min Holding AG and 50% by the French companies Spir and Sofiouest (25 % each).

20 Minutes France will publish a free commuter newspaper based on the concept developed by 20 Min Holding AG through the publication of free commuter newspaper in 5 major cities in Europe: Zürich, Basel and Bern in Switzerland as well as Madrid and Barcelona in Spain.

The companies Sofiouest and Spir Communication are two dominating players within the French media industry.

The launch in Paris involves an investment from Schibsted of 10-13 million euro in 20 Minutes France SAS. This gives an ownership in 20 Minutes France SAS of 31 – 41%, including indirect ownership through 20 Min Holding AG.

Schibsted is the principal shareholder of 20 Min Holding AG with an ownership of 41%. 20 Min Holding AG started the development of a free commuter newspaper concept on the European continent in 1998.