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EEG: AS Ekspress Grupp and Vivarone OÜ restructured assets in the joint venture Eesti Päevalehe AS

Spekuliantai.lt | 2011-03-11 | NASDAQ OMX biržų naujienos | perskaitė: 1841
Raktiniai žodžiai: AS Ekspress Grupp, EEG
EEG: AS Ekspress Grupp and Vivarone OÜ restructured assets in the joint venture Eesti Päevalehe AS

Ekspress Grupp Company Announcement 11.03.2011

AS Ekspress Grupp and Vivarone OÜ restructured assets in the joint venture Eesti
Päevalehe AS



Tallinn, Estonia, 2011-03-11 14:00 CET (GLOBE NEWSWIRE) --

AS Ekspress Grupp and Vivarone OÜ have agreed on restructuring their present
partnership in Eesti Päevalehe AS. According to the agreement, Vivarone OÜ will
become owner of the real-estate previously owned by Eesti Päevalehe AS and
Ekspress Grupp will become a solo owner of Eesti Päevalehe AS. To conclude the
restructuring, Vivarone OÜ bought the property at Narva mnt 13 from Eesti
Päevalehe AS and sold its shares in Eesti Päevalehe AS to Ekspress Grupp.
Parties then exchanged mutual claims. No cash was involved in the transaction.
Eesti Päevalehe AS will continue renting the premises from Vivarone OÜ.

Ekspress Grupp sees the restructuring as an opportunity to integrate all the
group's content production units and all the servicing units. In addition to
savings, 100% ownership in Eesti Päevalehe AS will allow Ekspress Grupp better
use his expertise to improve competitiveness of Eesti Päevaleht as a daily
paper.




Additional information:
Gunnar Kobin
Chairman of the Management Board
GSM: +372 5188111
e-mail: [email protected]

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