AS Ekspress Grupp signed a letter of intent to sell AS Express Post 04.02
Today, on 4 February 2011, AS Ekspress Grupp signed a letter of intent for selling the shareholding in the newspaper home delivery company AS Express Post. The holding will be acquired by AS Eesti Post. According to the letter of intent, the transaction price is EUR 2 621 100.AS Ekspress Grupp's wish to assign the shareholding follows the Group's strategy to increasingly focus on digital media. Consequently, AS Express Post's strategical value for AS Ekpress Grupp decreases. At the same time, possible merger of AS Express Post and AS Eesti Post enables through joining different activities to make home delivery more efficient. Final sale-purchase agreement will be concluded after the permission for aggregation has been received from the Estonian Competition Authority.