AS Ekspress Grupp to sell the shares of AS Express Post
December 21 2023 - 8:00AM
AS Ekspress Grupp to sell the shares of AS Express Post
AS Õhtuleht Kirjastus, 50% of which owned by AS Ekspress
Grupp, entered into a contract to acquire a 100% ownership interest
in AS Express Post, which is equally owned by the two largest
Estonian media companies, AS Ekspress Grupp and AS Postimees
Grupp.
The owners of Express Post, which used to operate in the
business of home delivery of printed periodicals across Estonia,
decided to close the home delivery business at the beginning of
this year, and the company has continued to provide call centre and
subscriber database management services to periodicals.
"The acquisition of Express Post will help strengthen the
capability of Õhtuleht Kirjastus in providing the call centre
service also to other media companies. The sale of the shares of
Express Post is in line with the long-term strategy of Ekspress
Grupp, according to which we have decided to exit the home delivery
business and focus on the growth of the digital revenue base," said
the Chairman of the Management Board of Ekspress Grupp, Mari-Liis
Rüütsalu.
The parties have agreed that the terms of the transaction will
be confidential. The transaction will close no later than 30 April,
2024, if the conditions for the completion of the transaction are
met.
AS Express Post is a joint venture established in
1997 which employs fewer than ten people. The ownership interest of
Ekspress Grupp in Express Post is 50%.
The transaction is neither considered to be of substantial
importance nor a related party transaction in accordance with
section “Requirements for Issuers” of the rules and
regulations of the NASDAQ Tallinn Stock Exchange.
AS Ekspress Grupp confirms that the members of the Group’s
Management Board and Supervisory Board are not personally
interested in the transaction.
Mari-Liis RüütsaluChairman of the Management Board+372 512 2591
mariliis.ryytsalu@egrupp.ee
AS Ekspress Grupp is the leading Baltic media
group whose key activities include web media content production,
and publishing of newspapers, magazines and books. The Group also
operates an electronic ticket sales platform and ticket sales
offices and offers outdoor screen service in Estonia and Latvia.
Ekspress Grupp launched its operations in 1989 and employs almost
1100 people.
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