Schibsted ASA (SCH) - Put Option regarding Anuntis Segundamano Holding

Posted on: Mon, 02 Mar 2009 01:32:00 EST

Symbols: SBSNY, SBSNF

Mar 02, 2009 (Hugin via COMTEX) --
SBSNF | Quote | Chart | News | PowerRating -- Schibsted has been notified by Primerama, the minority shareholder of
Anuntis Segundamano Holding, that Primerama wishes to execute its
option of selling 12% of the shares of Anuntis Segundamano to
Schibsted.

Schibsted accepts the notification, and will follow the relevant
procedures within the existing agreements between Schibsted and
Primerama.

The transaction is to take place at market valuation. In case the two
parties do not reach an agreement on the conditions for the
transaction through the agreed negotiation procedure, the price will
be determined by two independent investment banks according to a
specified, pre-agreed valuation process. Should this be the outcome,
it is expected that the process will require a minimum of 200 days
for completion. However, it could take up to 250 to 270 days.

The call and put agreements are structured in such a manner that the
12% of the share capital that now will be transacted are the same
shares upon which Schibsted holds a call starting 01.07.2009. Hence,
after the completion of the current transaction, Schibsted's call
option on the remaining 11.77% of the shares start at 01.07.2013.

Contact persons:
Trond Berger, EVP/CFO: telephone + 47 916 86 695
Sverre Munck, EVP / International: telephone + 47 916 86 699

Oslo, 2 March 2009
SCHIBSTED ASA

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

SOURCE: Schibsted

For full details on (SBSNY) SBSNY. (SBSNY) has Short Term PowerRatings at TradingMarkets. Details on (SBSNY) Short Term PowerRatings is available at This Link.

For full details on (SBSNF) SBSNF. (SBSNF) has Short Term PowerRatings at TradingMarkets. Details on (SBSNF) Short Term PowerRatings is available at This Link.

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