Schibsted to form joint venture with Telenor
Sep 30, 2013 (MarketLine Financial Deals Tracker via COMTEX) --
Schibsted ASA, a media company, has agreed to form a 50:50 joint venture (JV) with Telenor ASA, a communications, information technology (IT) and media company, to pursue online classified opportunities in selected key markets in South America and Asia. Both the entities are based in Norway.
The new JV, known as SnT Classifieds, will be governed through a Board of Directors with equal representation from Telenor and Schibsted. Telenor will invest around EUR145 million ($196.10 million) in cash for a 50% stake in the new JV.
The transaction is expected to be finalized during the fourth quarter.
Deal Value (US$ Million) 196.11
Deal Type Partnership
Sub-Category Joint Venture
Deal Status Announced: 2013-09-30
Partner 1 (Company) Schibsted ASA
Partner 2 (Company) Telenor ASA
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