Schibsted has entered into agreement to sell the fully owned subsidiary Retriever AB to Norsk Telegrambyrå AS and Tidningarnas Telegrambyrå AB who will own 34% and 66% respectively. Total consideration is SEK 115 million. Schibsted expects to book a gain around SEK 50 million as a consequence of the sale.
Closing of the transaction is expected during Q3 2009. The consideration will at closing be adjusted for changes in net debt and working capital.
Retriever is the leading provider of media monitoring, media archives and media analysis on a digital platform. The Swedish and Norwegian media archives are also included in Retriever. The company is not considered strategic core activity for Schibsted. Schibsted continues the efforts to free up capital through divestments of operations that are not considered core activities.
Trond Berger, CFO. Tel: +47 916 86 695
Oslo, August 28 2009
Jo Christian Steigedal
VP Investor Relations