1️⃣ Acquisition of FINN Stake
Schibsted, a prominent player in media, makes a significant move by acquiring 9.99% of FINN, a leading online marketplace in Norway. This acquisition, valued at NOK 2.5 billion, underscores Schibsted's commitment to expanding its digital portfolio.
2️⃣ Financial Implications
The financial implications of Schibsted's acquisition are substantial. The valuation of FINN at NOK 2.5 billion reflects its robust position in the market. Notably, Polaris Media's initial investment of NOK 5 million in FINN in 2000 has now evolved into Schibsted shares, highlighting the remarkable growth of the digital marketplace over the years.
3️⃣ Transaction Details
The intricacies of the transaction involve the issuance of new Schibsted B-shares, calculated based on the volume-weighted average price (VWAP) on the Oslo Stock Exchange. Additionally, to maintain market stability, the seller is bound by a 90-day restriction from selling the newly acquired shares post-transaction. These details illustrate the meticulous planning and execution involved in such strategic acquisitions.
4️⃣ Advisory Role
In navigating this complex deal, Schibsted sought expert guidance. Carnegie AS provided invaluable financial advice, ensuring that the acquisition aligns with Schibsted's long-term growth strategy. Meanwhile, Advokatfirmaet Wiersholm AS offered legal expertise, ensuring compliance and mitigating potential risks associated with the transaction. This collaboration emphasizes the importance of seeking comprehensive support in significant business endeavors.
What are your thoughts on Schibsted's strategic move in acquiring a stake in FINN?
