Schibsted Media Group announced on 13 November 2014 an agreement to establish joint ventures for the development of online classifieds platforms in four key markets - Brazil, Indonesia, Thailand and Bangladesh.

The transactions closed on 9 January 2015 after all conditions precedent have been satisfied, and the joint ventures are now established.

The establishment of the joint ventures will bring substantial benefits to consumers, as they will be able to buy and sell goods on better and more comprehensive market places. The businesses will also be able to share cost, expertise and people to more effectively build awareness of the benefits of a vibrant online classifieds offering to consumers.

Contact information:
Trond Berger, CFO, trond.berger@schibsted.no, +47 916 86 695
Jo Christian Steigedal, VP Investor Relations, jcs@schibsted.no, +47 415 08 733

Oslo, 9 January 2015
SCHIBSTED ASA

Jo Christian Steigedal
VP Investor Relations


 

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Schibsted via Globenewswire
HUG#1885547

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