Metro International S.A. ("Metro International") today announces, in view of Metro International's on-going rights issue (with a scheduled subscription period from and including 22 May to and including 4 June 2009), information on strategic development: 1. Exercise of option to acquire 58.5% of the capital and votes in Metro St. Petersburg, Russia Metro International has exercised its option to acquire 58.5% of the capital and votes in its franchise operation in St. Petersburg, Russia ("Metro St. Petersburg"). Metro International will consolidate its financial interest in Metro St. Petersburg in its Q3 2009 results, when all legal formalities are expected to be concluded. Metro International will continue to receive a franchise fee for licensing its newspaper concept and brand to Metro St. Petersburg. 2. Update on sale of Metro International's US operations Metro International has concluded the definitive agreements regarding the sale of its US operations to Seabay Media Holdings LLC ("Seabay") and expects to complete the transaction on or before 3 June 2009. 3. Divestment of the IT software development division under consideration Metro International is also considering the divestment of its software development business unit. The potential divestment will consist of the IP (intellectual property) for all the internally developed advertising and production systems currently in use in Metro International's operations. It will also include the development and management teams of the business unit. In the event of a divestment, Metro International will continue to use the software via a software license agreement. 4. Update on divestment of the operations in Portugal and Italy The discussions with potential partners for a full or partial divestment of Metro International's operations in Portugal and Italy (as disclosed in the press release dated 22 May 2009) are still ongoing. For further information please contact: Per Mikael Jensen, CEO and President +44 (0)78 4167 3230 Anders Kronborg, CFO +44 (0)79 1254 0800 *** ABOUT METRO INTERNATIONAL AND METRO Metro is the largest international newspaper in the world. Metro is published in over 100 major cities in 18 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated Metropolitan audience of 17 million daily readers. Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish Depository Receipts of series A and series B under the symbols MTROA and MTROB.
Metro International announces information on strategic development in view of the on-going rights issue
| Source: Metro International S.A.