8th March 2019 AS Ekspress Grupp acquired 100% holding in the company Linna Ekraanid OÜ, which is engaged in the sale of digital outdoor advertising in Estonia. So far, AS Ekpress Grupp owned 50% of the company.
July 2016 group acquired 50% stake of OÜ Linna Ekraanid. The purpose of the acquisition was to create preconditions for AS Ekspress Grupp to set off a new business line and thereby enlarge the group’s business areas portfolio. The group is continiously focusing long-term on developing digital outdoor advertising business line and take the leading role in the named business market. Accoring to the agreement signed in 2016, Ekspress Grupp had an obligation to acquire remaining 50% shares of the company in 2019.
The transaction is not to be treated as a significant transfer for the purposes of the “Requirements for Issuers” section of the NASDAQ Tallinn Stock Market rules. AS Ekspress Grupp confirms that neither OÜ Linna Ekraanid nor AS Ekspress Grupp’s management board and supervisory board members are in any way personally interested in the transaction. The parties have agreed not to disclose the price or other conditions of the transaction. Acquisition is financed with a loan.
OÜ Linna Ekraanid is a fast-growing outdoor media company that builds and operates digital outdoor screens. The company started installing digital screens since 2010. Currently Linna Ekraanid has 29 digtal screens across Estonia.
Signe Kukin
Group CFO
AS Ekspress Grupp
Phone: +372 669 8381
E-mail: signe.kukin@egrupp.ee
AS Ekspress Grupp is the leading media group in the Baltic States whose key activities include web media content production, publishing of newspapers and magazines and provision of printing services in Estonia, Latvia and Lithuania. Ekspress Grupp that launched its operations in 1989 employs 1700 people, owns leading web media portals in the Baltic States and publishes the most popular daily and weekly newspapers as well as the majority of the most popular magazines in Estonia.