Ekspress Grupp sells stake in Latvian financial comparison portal company Altero
The leading Baltic media group Ekspress Grupp is selling its stake in the Latvian company Altero, which operates financial product comparison portals across the Baltic states, to a company associated with Ekspress Grupp’s major shareholder Hans H. Luik. Ekspress Grupp will earn a one-off net profit of 2 million euros from the transaction.
AS Ekspress Grupp announced to the stock exchange that on Monday, August 4, 2025, it concluded an agreement whereby the group’s Latvian subsidiary AS Delfi will sell its 25.48 percent stake in SIA Altero. The buyer is Aktiva Finance Group OÜ, a company under the indirect control of Ekspress Grupp’s major shareholder Hans Luik. The transaction is valued at 4.2 million euros.
As a result of the transaction, Ekspress Grupp’s investments in associated companies will decrease by 2.2 million euros, generating a one-off net profit of 2 million euros. Following the transaction, Ekspress Grupp will repay a 1.8 million euro loan related to the financing of the initial acquisition of Altero.
Mari-Liis Rüütsalu, Chairwoman of the Management Board of AS Ekspress Grupp, stated that Ekspress Grupp participated in SIA Altero primarily as a financial investor. “The transaction was prompted by the strategic majority shareholder’s desire to consolidate the company under single ownership, allowing Altero to better focus on its core business and continued growth. Altero has been a successful investment for Ekspress Grupp, with its value increasing over the years. During negotiations, we achieved a price that satisfies both parties and allows Ekspress Grupp to focus on its core business,” said Mari-Liis Rüütsalu.
In determining the fair price of the transaction, Ekspress Grupp relied on management’s assessment and an analysis by independent financial advisor Ernst & Young Baltic. Both analyses confirmed that the transaction price is consistent with Altero’s value and well represents the interests of Ekspress Grupp’s minority shareholders.
Ekspress Grupp will use the proceeds from the transaction to invest in its strategic business areas, focusing on web media content production, digital services, and the development of ticket sales and event organization activities in the Baltic states.
SIA Altero group manages financial product comparison and brokerage portals in Latvia, Lithuania, and Estonia. The platform allows individuals and businesses to receive offers from various lenders with a single application for consumer loans, business loans, car leasing, refinancing, and loan consolidation. The Altero group’s consolidated revenue for 2024 was 7.8 million euros, with a net profit of 1.8 million euros.
AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production and publishing of newspapers, magazines, and books. The Group also operates an electronic ticket sales platform and ticket sales offices in Latvia and Estonia and offers digital outdoor screen service in Estonia and Latvia. In addition, the Group companies organize conferences, trainings, and events mainly in Estonia and Lithuania but also in Latvia. Ekspress Grupp launched its operations in 1989 and employs about 1,000 people.
Additional information:
Mari-Liis Rüütsalu
Chairwoman of the Management Board
AS Ekspress Grupp
Tel: +372 512 2591
Email: mariliis.ryytsalu@egrupp.ee