LBI International AB sells stake in Atos Origin Middle East to Hewlett Packard

Nordic Business Report, Nov 14, 2007

NORDIC BUSINESS REPORT-14 November 2007-LBI International AB sells stake in Atos Origin Middle East to Hewlett Packard(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com

Swedish full service digital agency network LBI International AB (LBi) said on Wednesday (14 November) that it has completed the sale of its 8.1% stake in Atos Origin Middle East to Hewlett Packard.

LBi sold its holding of 10,000 shares for a total of USD7.5m.

"The cash proceeds from the sale of LBi's stake will significantly enhance LBi's cash position. Together with its existing arranged debt facility, LBi will use the cash and debt to complete its targeted acquisitions," LBi said.

LBi, headquartered in Stockholm in Sweden and in Amsterdam in the Netherlands, is an international digital agency network providing marketing and technology solutions. The group has 1,400 employees in Europe and Northern America. LBi is listed on the OMX Nordic Exchange in Stockholm, and on Euronext in Amsterdam.

One British pound (GBP) is worth approximately 2.11 US dollars (USD).

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