Schibsted ASA (SBSNF.PK) has signed an agreement to acquire 9.99% of Finn.no AS or FINN from Polaris Media ASA. The total transaction value is 2.5 billion Norwegian Kroner on an equity basis. Schibsted will settle the deal by issuance of new Schibsted B-shares to
the seller. Polaris has been a minority owner in FINN since its incorporation in 2000.
Kristin Skogen Lund, CEO of Schibsted, said: "This is another step towards simplifying
Schibsted's structure and unlocking the company's full potential, following the
divestment of our news media operations to the Tinius Trust which was announced
in December last year."
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