Schibsted has agreed to acquire 1,717,149 shares in Media Norge ASA from Vital Forsikring ASA at NOK 72.50 per share. Schibsted increases its holding in Media Norge ASA from 80.6 to 82.3 per cent.
To thirds of the payment will be in cash, while one third will be in Schibsted shares from the company’s treasury. The exchange rate will be based on the average trading price for the Schibsted share on 22 December 2010, which was NOK 171.35. This implies that Schibsted reduces its number of own shares by 242,181.
The transaction is expected to close within the end of 2010. After the transaction, Schibsted will hold 4,230,440 own shares, of which 4,190,940 are held by Schibsted ASA and 39,500 are held by the subsidiary Bergens Tidende. AS.
Trond Berger, CFO. Mobile: +47 916 86 695
Oslo, 23 December 2010
Jo Christian Steigedal
Vice president IR
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)