AS Ekspress Grupp to sell the shares of AS Express Post
AS Õhtuleht Kirjastus, 50% of which owned by AS Ekspress Grupp, entered into a contract to acquire a 100% ownership interest in AS Express Post, which is equally owned by the two largest Estonian media companies, AS Ekspress Grupp and AS Postimees Grupp.
The owners of Express Post, which used to operate in the business of home delivery of printed periodicals across Estonia, decided to close the home delivery business at the beginning of this year, and the company has continued to provide call centre and subscriber database management services to periodicals.
“The acquisition of Express Post will help strengthen the capability of Õhtuleht Kirjastus in providing the call centre service also to other media companies. The sale of the shares of Express Post is in line with the long-term strategy of Ekspress Grupp, according to which we have decided to exit the home delivery business and focus on the growth of the digital revenue base,” said the Chairman of the Management Board of Ekspress Grupp, Mari-Liis Rüütsalu.
The parties have agreed that the terms of the transaction will be confidential. The transaction will close no later than 30 April, 2024, if the conditions for the completion of the transaction are met.
AS Express Post is a joint venture established in 1997 which employs fewer than ten people. The ownership interest of Ekspress Grupp in Express Post is 50%.
The transaction is neither considered to be of substantial importance nor a related party transaction in accordance with section “Requirements for Issuers” of the rules and regulations of the NASDAQ Tallinn Stock Exchange.
AS Ekspress Grupp confirms that the members of the Group’s Management Board and Supervisory Board are not personally interested in the transaction.
Mari-Liis Rüütsalu
Chairman of the Management Board
+372 512 2591
mariliis.ryytsalu@egrupp.ee
AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production, and publishing of newspapers, magazines and books. The Group also operates an electronic ticket sales platform and ticket sales offices and offers outdoor screen service in Estonia and Latvia. Ekspress Grupp launched its operations in 1989 and employs almost 1100 people.
