Business Services Industry
Schibsted ASA acquires selected activities of Trader Classified Media
Nordic Business Report, June 7, 2006
NORDIC BUSINESS REPORT-7 June 2006-Schibsted ASA acquires selected activities of Trader Classified Media(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com
The Norwegian media group Schibsted ASA said on Wednesday (7 June) that it has, through its subsidiary Schibsted International Classified & Search AS, entered into a definitive agreement to acquire selected activities of Trader Classified Media (Trader) in Spain (including Latin America), France, Italy and Switzerland.
After the acquisition Schibsted will become a leading player within classifieds in Spain, France and Italy, according to the company.
The acquisition was valued at EUR580m in cash on a debt-free, cash-free basis.
One euro (EUR) is worth approximately 0.69 British pounds (GBP).
((Comments on this story may be sent to nbr.feedback@nordicbusinessreport.com))
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