Eniro to divest WLW Eniro has reached an agreement to sell its German subsidiary Wer liefert was? (WLW) to the Italian group Seat Pagine Gialle. The transaction will be effected through the sale by Eniro of 100 percent of the shares in WLW for a payment corresponding to an enterprise value of EUR 115 M. The sale is expected to result in a capital gain, which is preliminary estimated to exceed SEK 100 M. “After previous acquisitions, primarily in Norway and Denmark, we now have a very strong position in local searches in the entire Nordic region and in Poland. I am very pleased that through the promised sale of WLW, we can fulfill our strategy of focusing on our prioritized markets,” says Eniro's President and CEO Tomas Franzén. The sale is expected to be completed on September 30, 2007 and is subject to approval by the competition authorities. According to an agreement with Eniro's banks, Eniro does not need to use the proceeds from the sale of WLW to amortize the company's loans. Wer liefert was? (www.wlw.com) offers a supplier search service with the same name as the company (Who supplies what?). This service is the market-leader within Internet-based B2B search services for the target group commercial purchasers. The service has been available on the Internet since 1995, and as of 2000, printed directories are no longer published. The company's offices are located in Hamburg. In 2006, WLW reported sales of SEK 325 M and EBITDA of SEK 70 M with some 250 employees. Ernst & Young Transaction Advisory Services has acted as advisors in the transaction. For further information: Tomas Franzén, President and CEO, tel: +46 8 553 310 01, + 46 70-333 63 20 Joachim Jaginder, CFO, tel: +46 8 553 310 15, +46 70-555 15 83 Erik Kristow, Press Officer, tel: +46 70 555 08 24, erik.kristow@eniro.com Seat Pagine Gialle Stefano Canu, Investor Relations Manager, tel +39 011 435 2557, mobile +39 335 849 5173 investor.relations@seat.it www.eniro.com Eniro is the leading search company in the Nordic media market. Eniro makes it easy to find people, businesses and products using directories, directory assistance, Internet and mobile services. Eniro´s core markets are the Nordic countries and Poland. Eniro is listed on the Stockholm Stock Exchange and has some 5,000 employees. In 2006, revenues amounted to SEK 6,372 M, with EBITDA of SEK 2,220 M. Operating revenues and EBITDA excluding discontinued operations. www.seat.it The Seat Pagine Gialle group is the European leader and one of the main operators at world level in the sector of multimedia profiled advertising, offering "print-voice-online" directories, high-tech products for the Internet and for satellite and ortophotometric navigation, as well as complementary communication services such as one-to-one marketing. The SEAT Pagine Gialle group operates in Italy and the United Kingdom in the local advertising market for small and medium-sized enterprises (SMEs), in which it is present with its publishing and advertising multiplatform business, mainly involving telephone directories and information services. It also operates in the Directory Assistance market in Germany, Spain, France and Italy, in the Business Information and merchandising markets in Italy. SEAT Pagine Gialle S.p.A. is listed at the stock exchange in Milan.
Eniro to divest WLW
| Source: Eniro AB