AS Ekspress Grupp to acquire media portal, lrytas.lt in Lithuania
09 Diciembre 2022 - 5:15AM
AS Ekspress Grupp to acquire media portal, lrytas.lt in Lithuania
On December 9, 2022, UAB Satyre, 100% subsidiary
of AS Ekspress Grupp, entered into the contract for the acquisition
of 100% of shares in the media company UAB Lrytas from UAB
“Lietuvos rytas”.
UAB Lrytas operates one of the most popular
local news portal, lrytas.lt in Lithuania. Online portal was
founded in 2006. News portal has a strong and independent editorial
team, producing its own online content. News portal has more than
420 thousand average real users per day (source: Gemius) and
generates currently advertising revenues around 3 million per year.
UAB Lrytas employs more than 50 employees.
The acquisition of UAB Lrytas is an organic step
in our strategy. The main goal of this deal is to grow the digital
media business. Ekspress Grupp acquires the online portal but keeps
very close cooperation with Lietuvos rytas newspaper. The shared
goal of Lrytas and Ekspress Grupp is to continue offering
attractive and independent content for its readers. After the
transaction, UAB Lrytas will continue to operate as a separate
media company.
The parties have agreed neither to disclose the
price nor any other terms of the transaction. The transaction is
partly financed with a bank loan from AS SEB Pank. The transaction
is not considered as a significant transaction according to the
rules and regulations of the NASDAQ Tallinn Stock Exchange
“Requirements for Issuers”. AS Ekspress Grupp confirms that the
members of the Group’s Management and Supervisory Boards are not
personally interested in the transaction. The transaction does not
require prior approval of the Lithuanian competition authority
because the aggregate turnover of the undertakings concerned is
below the merger notification threshold provided in the Lithuanian
Law on Competition.
Mari-Liis Rüütsalu Chairman of the Management Board +372 512
2591 mariliis.ryytsalu@egrupp.ee
AS Ekspress Grupp is the leading media group in
the Baltic States whose key activities include web media content
production, publishing of newspaper, magazines and books. The Group
also manages the electronic ticket sales platform and ticket sales
sites in Latvia and Estonia. Ekspress Grupp that launched its
operations in 1989 employs 1,400 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.
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