Business News

Schibsted ASA (SCH) – Divestment of shares in Polaris Media

Friday 12. June 2009 - Schibsted refers to notice of large shareholdings in Polaris Media ASA dated today June 12 2009, where Schibsted announced the sale of 17,751,236 shares in Polaris Media ASA for NOK 22.00 pr share.

As stated in the notice, Schibsted has entered an agreement with SEB Enskilda, where Schibsted maintains the financial exposure to the shares that are divested. The agreement has a maturity of one year. The agreement implies an interest cost for Schibsted corresponding to three months NIBOR plus 250 basis points, calculated on the basis of NOK 390,527,192, which is the consideration for the sale of the shares.