Business News

Schibsted ASA (SCH) – Schibsted divests Teleadress

Tuesday 15. December 2009 - Schibsted Tillväxtmedier, a 100 % owned subsidiary in the Schibsted Group, divests its share of 80.1 % of TA Teleadress Information AB. The sales proceeds are SEK 60 million. The buyer of the shares is Bisnode AB, which has held 19.9 % of the Teleadress shares.

Closing of the transaction is expected in Q4 2009. Schibsted expects to book a gain of approximately SEK 50 million.

Teleadress has a data base containing information about more than 5.6 million individuals in 3.6 million households and almost 1 million companies. The company had in the first nine months of 2009 operating revenues of SEK 45 million, and an operating profit (EBITA) of SEK 5 million. Hitta.se is a key customer for Teleadress, and Hitta.se has entered into a long term agreement of cooperation on data delivery with Bisnode.

Teleadress is not considered strategic core activity for Schibsted. Schibsted continues the efforts to free up capital through divestments of operations that are not considered core activities.