Schibsted Media Group announced on 13 November 2014 an agreement to establish joint ventures for the development of online classifieds platforms in four key markets – Brazil, Indonesia, Thailand and Bangladesh.
The transactions closed on 9 January 2015 after all conditions precedent have been satisfied, and the joint ventures are now established.
The establishment of the joint ventures will bring substantial benefits to consumers, as they will be able to buy and sell goods on better and more comprehensive market places. The businesses will also be able to share cost, expertise and people to more effectively build awareness of the benefits of a vibrant online classifieds offering to consumers.
Contact information:
Trond Berger, CFO, trond.berger@schibsted.no, +47 916 86 695
Jo Christian Steigedal, VP Investor Relations, jcs@schibsted.no, +47 415 08 733
Oslo, 9 January 2015
SCHIBSTED ASA
Jo Christian Steigedal
VP Investor Relations