Schibsted ASA has after closing of the Stock Exchange on 11 May 2007 entered into an agreement to purchase 1,506,730 shares in Stavanger Aftenblad ASA, of which 774,830 shares from Vinkelaften AB and 731,900 shares from Herenco AB. The purchase price is NOK 234.33 per share, NOK 353 million in total. Following the purchase, Schibsted’s total holding in Stavanger Aftenblad will be 3,875,370 shares, corresponding to 52.9% of the shares and votes in the company. The transaction does not affect the sales option that Schibsted entered into with Montrica Global Opportunities Master Fund, ref stock exchange notification from 1 March 2007. The transaction is dependent upon a final decision by the board of directors of Stavanger Aftenblad.
As a consequence of the transaction, Schibsted will make a mandatory bid for the remaining shares in Stavanger Aftenblad at a price of NOK 234.33 per share. The offer will be made within four weeks after the mandatory bid obligation is triggered and the bid period will be four weeks.
Schibsted currently holds 2,368,640 shares in Stavanger Aftenblad, corresponding to 32.3% of the shares and votes. The announced transaction and the outcome of the mandatory bid will not have an effect on Schibsted’s ownership stake in Media Norge, which will be 50.1% of the shares in future company.
CFO Trond Berger, tel.: +47 91 68 66 95
EVP Schibsted Norway Birger Magnus, tel.: +47 90 03 00 93
Oslo, 14 May, 2007