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Schibsted ASA (SCH) - Schibsted divests real estate in Bergen


December 19, 2013 - London

Schibsted Media Group has entered into an agreement to sell the Bergens Tidende office building at Krinkelkroken 1 in the centre of Bergen for NOK 350 million. The building mainly consists of office space, totally gross 9563 square meters.

The transaction is expected to be completed in Q4 2013, and Schibsted expects to book a gain of around NOK 130 million.

Bergens Tidende has a lease contract for the offices in Krinkelkroken 1 which expires at the end of Q1 2017, with options to prolong. At the Schibsted group level the sale will have a net negative annual effect on gross operating profit (EBITDA) of around NOK 20 million.

Oslo, 19 December 2013
SCHIBSTED ASA

Jo Christian Steigedal
VP Investor Relations

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Schibsted via Globenewswire

HUG#1750907

GlobeNewswire

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