Metro International S.A. ("Metro") today announced that it has entered into an agreement for the sale of its Hungarian operation to Megapolis Media Inc. As a part of this transaction, Metro has entered into a franchise agreement with the new owners who will continue to publish the Metro newspaper in Hungary under the brand name Metropol.
The transaction was completed yesterday and Metro Hungary will no longer be consolidated in Metro's books from 1 June. Metro is expected to receive revenues under the new franchise agreement from 2013 onwards. The purchase price of Metro Hungary is €0.7 million.
Péter Hivatal, Managing Director of Metro Hungary, commented: "The Metro concept is successful in Hungary. The attractive brand and the strong market position on the national newspaper market were essential for the new owner to invest in Metropol. This means business as usual for our readers and staff, and we look forward to strengthen the newspaper even further in the future."
Per Mikael Jensen, President and CEO of Metro International, added: "The divestment of Hungary is one of several transactions that Metro has completed in order to further strengthen the focus on emerging markets. Metropol will remain in the Metro portfolio as a franchise and will continue to benefit from, and contribute to, the global network."
For further information please visit wwww.metro.lu or contact:
Per Mikael Jensen, President & CEO Tel: +46 8 120 570 00
Anders Kronborg, CFO Tel: +44 79 1254 0800
Linda Fors, Head of Investor Relations Tel: +46 704 15 95 30
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ABOUT METRO INTERNATIONAL AND METRO
Metro is the largest international newspaper in the world. Metro is published in over 100 major cities in 20 countries across Europe, North & South America and Asia. Metro has a unique global reach - attracting a young, active, well-educated Metropolitan audience of 17 million daily readers.
Metro International S.A. shares are listed on Nasdaq OMX Stockholm through Swedish Depository Receipts of series A and series B under the symbols MTROA and MTROB.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Metro International via Thomson Reuters ONE
