Grupo Zeta acquires 20 % of 20 Minutos España

Schibsted ASA (SCH) , Published 28/04/2005 11:03:54

Schibsted has established a strategic cooperation with the Spanish media group Grupo Zeta and will sell 20 % of the Spanish 20 Minutos operation. The transaction values the enterprise 20 Minutos España at EUR 70 million. The transaction will be done through a combination of a capital increase and sale of shares. The total investment of Grupo Zeta is approximately EUR 15 million. Through this transaction Grupo Zeta and Schibsted is establishing a strategic cooperation within the Spanish market.
Grupo Zeta is the third largest media group in Spain with activities within newspaper, magazines and book publishing. In 2004 Grupo Zeta’s revenues were EUR 450 million.
Grupo Zeta will conduct a Due Diligence during May, and the completion of the deal will be within June.
The sale will have no accounting effect for Schibsted.
Contact person:
Executive Vice President Sverre Munck, tel + 47 916 86 699
Oslo, April 28, 2005
Schibsted ASA
Trond Berger
CFO and Executive Vice President