Vend Marketplaces ASA

M&A Activity • Jan 23, 2019

Schibsted ASA (SCHA/SCHB) - Schibsted has taken full ownership of SCM Spain by acquiring minority stake

Schibsted ASA (SCHA/SCHB) - Schibsted has taken full ownership of SCM Spain by acquiring minority stake

Schibsted has acquired 10 percent of SCM Spain, increasing the ownership to 100

percent. Through well known brands like Milanuncios, Coches, InfoJobs, Fotocasa

and Habitaclia, SCM Spain has a leading position in the Spanish online

classifieds market.

SCM Spain grew its revenue by 19 percent to EUR 155 million in the 12 month

period until September 2018. The EBITDA was EUR 46 million in the same period,

which represented a 12 month growth of 64 percent, and implying an EBITDA margin

of 30 percent.

"We are encouraged by the recent development of our Spanish business, and have

high ambitions for the development going forward. SCM Spain is a solid

organization with good market positions, and at the same time we believe

development will be positive in the Spanish market as such in the years to

come," CEO of MPI, Schibsted's international marketplaces business, Rolv Erik

Ryssdal says.

"Being the 100 percent owner means that SCM Spain will have the best conditions

to be able to achieve good results going forward. It will now be possible to

take out increased synergies with the other successful online classifieds sites

in MPI as well as seamlessly taking advantage of MPI's joint global product and

tech capabilities," Ryssdal adds.

Schibsted will pay EUR 100 million for the shares, implying an Enterprise Value

of the company of around EUR 980 which in turn implies an EV/EBITDA multiple

based on the 12 months period Q4 2017-Q3 2018 of 21.1x.

Contact persons:

For investors/analysts:

Jo Christian Steigedal, VP Head of IR. Tel: +47 415 08 733, email:

jcs@schibsted.com

For media:

Nathalie Kåvin, Director of Communications. Schibsted Media Group, Tel:

+47 934 01 363, e-mail: nathalie.kavin@schibsted.com

Oslo, 23 January 2019

SCHIBSTED ASA

Jo Christian Steigedal

Head of IR

This information is subject to the disclosure requirements pursuant to section

5 -12 of the Norwegian Securities Trading Act.