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Metro International (STO:MTROA) Metro International S.A ("Metro"), the international newspaper group, today announced that today Schibsted Sweden acquired 35 percent of Metro Sweden's shares. Schibsted paid Metro 350 million SEK in cash, implying a value of 1 billion SEK for Metro Sweden.
The deal was made public on May 19 and has been reviewed by The Swedish Competition Authority (Konkurrensverket). The authority issued its approval of the deal on September 18, which enabled the conclusion and final execution of the deal. . A number of high impact advertising collaborations between the two companies will now be presented.
* Metro and Aftonbladet will launch Sweden's most powerful advertising package with a daily reach of 4.2 million readers. Metro's sales team will sell the package. * Metro and Aftonbladet will further launch a joint advertising package for the entertainment market in Stockholm. * The parties have also created a unique combination between Metro, Aftonbladet and Svenska Dagbladet aiming to serve retail advertisers in Stockholm.
A joint press conference is planned to take place on October 6, where more information will be shared.
Other collaborations and synergies between Metro and Schibsted Sweden will be discussed within Metro Sweden's new board that consists of Per-Mikael Jensen (CEO, Metro International), Martin Alsander (Executive Vice President, Metro International), Sakari Pitkänen (Global Editor in Chief, Metro International), Gunnar Strömblad (CEO, Schibsted Sweden) and Carl Gyllfors (CEO, Aftonbladet).
"We are very pleased that this business deal was implemented today. We are now able to focus on finding more synergies in order to keep on strengthening Metro's position as Sweden's largest newspaper", says Martin Alsander, Executive VP, Metro International.
Andreas Ohlson, CEO Metro Sweden:"We are excited and looking forward to heading out and presenting the new advertising package to our customers. In my opinion, we have created what might be the greatest advertising package for each respective market, and I am convinced that the advertisers will share my opinion. Together with Aftonbladet, we now have a reach that exceeds everything else in both print and TV at a very good price for the advertiser.
For further information, please contact: Martin Alsander, Executive VP, Metro International, Phone: +46 8 402 99 00 Andreas Ohlson, CEO, Metro Sweden Phone: +46 8 402 99 00
ABOUT METRO INTERNATIONAL AND METRO Metro is the largest international newspaper in the world. Metro is published in over 150 major cities in 21 countries across Europe, North & South America and Asia. Metro has a unique global reach attracting a young, active, well-educated Metropolitan audience of over 20 million daily readers. Metro's advertising sales have grown at a compound annual rate of 38% since the launch of the first edition in 1995.
Metro International 'A' and 'B' shares are listed on the OMX Nordic Exchange's Nordic List under the symbols MTRO SBD A and MTRO SBD B.
