Finnmer acquires Blocket AB

Schibsted ASA (SCH) , Published 05/12/2003 12:24:28

The company Finnmer AB, controlled by the Schibsted subsidiary Aftonbladet Hierta AB has today acquired 100% of the shares in the classified ad service run by Blocket AB. The purchase price is SEK 183 mill. Blocket has been running since 1996, and is expected to generate revenues of SEK 34 mill. in 2003, giving a profit of SEK 13 mill. Blocket is the leading marketplace for private car sales and miscellaneous on the net in Sweden. The acquisition will thus strengthen and compliment Schibsted’s position on the classified advertising market. The combined entity of Blocket and Finnmer will be the leading site for classified ads on the net in Sweden.
Finnmer AB is owned 72.8% of the holding company ASF Sverige AB, which in turn is owned by Aftonbladet Hierta AB (70%), Svenska Dagbladet AB (15%) and AS (15%). The remaining 27.2% in Finnmer AB is owned by Helsingborgs Dagblad AB (9.1%), Gota Media AB (9.1%) and one of the former owners of Blocket AB, Pierre Siri (9%).
Contact person: Trond Berger, telephone +47 9168 6695
Oslo, 5 December 2003
Gisle Glück Evensen
Investor Relations