Schibsted Classified Media acquires Belgian market leader

Schibsted ASA (SCH) , Published 16/05/2008 08:30:00

Schibsted Classified Media (SCM) has acquired 100 % of the shares of the Belgian online classified site for a consideration of EUR 20.25 million. The move strengthens SCMs position as one of the leading European players in the market for online classifieds. Kapaza is the clear market leader in Belgium within miscellaneous classifieds, and has a strong position in the automobile segment as well. Kapaza is largest in the market for privately sold cars, and runner up regarding cars sold through dealers.
The operation has clear similarities with the Swedish online classifieds site Blocket, both regarding design and business model. Blocket is a concept that has been launched with success both in Spain, France, Italy and Malaysia.
Kapaza was established in 2003 by the two founders, who are now selling the operation to Schibsted. Agreements securing continuity among key personnel in Kapaza have been entered into. In total, Kapaza has 5 employees.
Contact person:
EVP International, Sverre Munck, tel: +47 91 68 66 99
Oslo, 16 May 2008
Jo Christian Steigedal, IR Officer