Metro International S.A. ("Metro") today announced that it has sold off its
shares in Metro France to Télévision Française 1 ("TF1"). As part of this
transaction, Metro has entered into license and services agreements with the new
owner who will continue to publish the Metro newspaper in France.
The transaction was completed today. Metro is expected to receive revenues under
the new license and services agreements from 2011 onwards. Based on a company
valuation of €10.0 million (Metro held 65.7 percent of the shares in the
company) the total consideration for Metro's shares, after adjusting for net
debt and net working capital, was €3.9 million, which will result in a net gain
of €6.3 million.
Metro France was launched in 2002 and is today the second most read daily
newspaper in France. TF1 is the largest broadcaster in France and views the
transaction as an opportunity to expand its offer of free news and entertainment
in all media channels.
Per Mikael Jensen, President and CEO of Metro International, commented: "France
is an important market for international advertisers and we are therefore
pleased to keep the Metro brand in the market. We have a productive partnership
with TF1 and we are confident that they are the right company to take Metro
France into the next phase."
For further information please visit www.metro.lu or contact:
Per Mikael Jensen, President & CEO +44 78 4167 3230
Anders Kronborg, CFO +44 79 1254 0800
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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.
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Metro International divests Metro France's operation and enters into license agreement
| Source: Metro International S.A.