Tallinn, Estonia, 2016-09-19 15:58 CEST (GLOBE NEWSWIRE) --
On 16th of September 2016 AS Ekspress Grupp acquired 49% ownership in the company Babahh Media OÜ, which is engaged in the video production, media solutions and streaming related infrastructure sales in Estonia. AS Ekspress Grupp also got an option to acquire an additional ownership in Babahh Media OÜ in 2021, thereby AS Ekspress Grupp would increase its share holding in Babahh Media OÜ to 70% in total.
The purpose of the acquisition is to expand our business in the fast-growing market of online video production and video streaming. Babahh Media’s team has been working in this field for many years and has great potential in the growing market of video production.
COBALT acted as the legal advisor to AS Ekspress Grupp.
The transaction can’t be treated as a transaction with a related party and the members of the supervisory and management board do not have any personal interest in the transaction.
The transaction does not constitute as a concentration that is subject to control by the Competition Authority.
Additional information:
Pirje Raidma
Member of the Management Board
Phone: +372 669 8197
E-mail: pirje.raidma@egrupp.ee