Intention to sell VG building

Schibsted ASA (SCH) , Published 03/09/2007 08:20:05

Verdens Gang AS has started a process for an eventual divestment of the building in Akersgaten 55 in Oslo. The building consists of offices and stores, a total of 33,000 m2, placed in an attractive area in central Oslo. The book value is approx. NOK 315 million, and the accounting gain following the divestment is expected to be considerable.

A continued hire of the offices of VG is a condition for the sale. A final decision regarding the sale is dependent upon the price and the conclusion is expected to be reached during the fall of 2007.
Contact persons:
CFO of Schibsted, Trond Berger tel.: +47 91 68 66 95
CEO of VG, Rolv Erik Ryssdal tel.: +47 91 60 02 00
Oslo, 3 September 2007