Schibsted ASA (OB:SCHA) signed an agreement to acquire 9.99% stake in FINN.no AS from Adresseavisen AS and Polaris Media Nord-Norge AS for NOK 2.5 billion on April 26, 2024. Schibsted will settle the transaction by issuance of new Schibsted B-shares to the Seller. The new B-shares will be issued through a separate resolution by the Schibsted Board after the expiry of the five trading days after signing the Agreement.

The resolution will be made under the authorisation granted by the Annual General Meeting to the Board to issue B-shares up to 10% of the B-share capital. As such, the issuance of the new B-shares is subject to the renewal of the authorisation by the Annual General Meeting scheduled for today, 26 April 2024. As part of the Agreement, the Seller will undertake not to sell or otherwise transfer the newly issued Schibsted B-shares for a period of 90 days after closing of the transaction.

Carnegie AS acts as exclusive financial advisor and Advokatfirmaet Wiersholm AS acts as legal advisor to Schibsted in connection with the Agreement.