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Estonian Ekspress Grupp acquires holding in Adnet Media
BC, Tallinn, 07.11.2013.
Print version
Print versionEstonian publishing and media company AS Ekspress Grupp informed the Tallinn stock exchange that it acquires a holding in UAB Adnet Media, informs LETA.
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On Wednesday, the shareholders of AS Ekspress Grupp and UAB Adnet Media signed an agreement of purchase and sale of shares, according to which AS Ekspress Grupp acquires 49% holding in Lithuanian company UAB Adnet Media.
Adnet Media is engaged in internet advertising sales in Estonia, Latvia and Lithuania.
Ekspress Grupp will also get an option to acquire the remaining 51% of the shares of UAB Adnet Media in the first quarter of 2017.
The purpose of the acquisition is to enlarge the advertising product portfolio in the online media segment. The transaction can’t be treated as a transaction with a related party and the members of the supervisory and management board do not have any personal interest in the transaction.
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