AS Ekspress Grupp acquires Linna Ekraanid OÜ 11.03
July 2016 group acquired 50% stake of OÜ Linna Ekraanid. The purpose of the acquisition was to create preconditions for AS Ekspress Grupp to set off a new business line and thereby enlarge the group’s business areas portfolio. The group is continiously focusing long-term on developing digital outdoor advertising business line and take the leading role in the named business market. Accoring to the agreement signed in 2016, Ekspress Grupp had an obligation to acquire remaining 50% shares of the company in 2019.
The transaction is not to be treated as a significant transfer for the purposes of the “Requirements for Issuers” section of the NASDAQ Tallinn Stock Market rules. AS Ekspress Grupp confirms that neither OÜ Linna Ekraanid nor AS Ekspress Grupp’s management board and supervisory board members are in any way personally interested in the transaction. The parties have agreed not to disclose the price or other conditions of the transaction. Acquisition is financed with a loan.OÜ Linna Ekraanid is a fast-growing outdoor media company that builds and operates digital outdoor screens. The company started installing digital screens since 2010. Currently Linna Ekraanid has 29 digtal screens across Estonia.