Metro International S.A. ("Metro International") today announces that it has entered into a sale and purchase agreement in Portugal with Holdimédia - SGPS, S.A. ("Holdmédia") and Metro News Publicações S.A. ("Metro News"). Through this agreement Holdimédia will become the majority shareholder of Transjornal-Edição de Publicações, S.A. ("Metro Portugal") with 80% of Metro Portugal's share capital. As a part of this transaction, Metro International has entered into a franchise agreement with the new owners who will continue to publish the Metro newspaper in Portugal. Before entering into these agreements, Metro International acquired the minority stake from Metro Portugal's former minority shareholder Meglo Média Global, SGPS, S.A.. Holdimédia is a company owned by Alberto do Rosário. Mr. Alberto do Rosário was, for more than 20 years, a member of the Board and CEO of several subsidiaries of Lusomundo Media (now Controlinvest Group). Mr. Alberto do Rosário, commented: "The acquisition of 80% of Metro Portugal, provides us with a great opportunity to enter into a press segment with a lot of potential. The fact that this acquisition was made with a strong minority partner, Metro News, allows us to foresee the future in an especially comfortable way." Per Mikael Jensen, CEO and President of Metro International said: "This deal is one of several transactions that Metro International is considering in an attempt to consolidate in a number of our European markets. This deal allows Metro International to continue to maintain its existing global reach and pan-European distribution platform which is important to our international advertisers. I am convinced that the new shareholders, with its experience and know-how, are the right entities to develop Metro Portugal. This transaction is therefore to the benefit of all parties." The transaction will have an insignificant positive EBIT impact and nil cash flow impact for Metro International in 2009. Metro International will not consolidate results from Metro Portugal as of the financial results in the third quarter 2009. For further information please contact: Per Mikael Jensen, CEO and +44 (0)78 4167 President 3230 Anders Kronborg, CFO +44 (0)79 1254 0800 Martin Alsander, Executive Vice President +46 (0)70 4229 994 *** 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 divests Metro Portugal and signs franchise agreement
| Source: Metro International S.A.