AS Ekspress Grupp sells a shareholding in a Latvian company

Core Viewpoint - AS Delfi, a subsidiary of AS Ekspress Grupp, has agreed to sell its 25.48% stake in SIA Altero to OÜ Aktiva Finance Group for EUR 4.2 million, with the transaction expected to yield a one-off net profit of EUR 2 million for Ekspress Grupp [1][3][6]. Group 1: Transaction Details - The sales price of the shareholding is EUR 4.2 million, and the payment will be made in cash upon conclusion of the sales contract [6]. - The transaction will lead to a EUR 2 million reduction in investments in affiliates for Ekspress Grupp [3]. - Following the transaction, Ekspress Grupp will repay a loan liability of EUR 1.8 million related to the initial acquisition of Altero [3]. Group 2: Company Overview - AS Ekspress Grupp is a leading media group in the Baltic region, involved in web media content production, publishing newspapers, magazines, and books, as well as operating an electronic ticket sales platform [5]. - The group employs approximately 1,000 people and has been operational since 1989 [5]. Group 3: SIA Altero Overview - SIA Altero operates financial comparison and brokerage platforms in Latvia, Lithuania, and Estonia, facilitating loan applications for consumers and businesses [2]. - The consolidated turnover of Altero group in 2024 was EUR 7.8 million, with a net profit of EUR 1.8 million [2]. Group 4: Regulatory Aspects - The transaction is not classified as significant under NASDAQ Tallinn Stock Exchange regulations but is considered a related party transaction [4]. - Members of the Management Board and Supervisory Board of Ekspress Grupp have declared their interests, with some having conflicts of interest but not participating in the decision-making process [4].