Vend Marketplaces ASA

M&A Activity • May 8, 2015

Schibsted ASA (SCH) - Schibsted Media Group places a conditional offer to acquire the Swedish online real estate vertical Hemnet

Schibsted ASA (SCH) - Schibsted Media Group places a conditional offer to acquire the Swedish online real estate vertical Hemnet

Schibsted Media Group has placed a conditional offer to acquire the Swedish

online real estate vertical Hemnet. The offer is for the entire company, which

is owned by Swedbank Fastighetsbyrå (34%) ("Fastighetsbyrån"), Mäklarsamfundet

(25%), Fastighetsmäklarförbundet FMF (25%) ("FMF") and Svensk

Fastighetsförmedling (16%). The offer is part of Schibsted's long term strategy

to modernize the market for online real estate advertisements in close

cooperation with Swedish realtors.

Fastighetsbyrån and Svensk Fastighetsförmedling have accepted the offer, which

gives Schibsted 50 percent of shares in Hemnet. The offer has been communicated

to the other owners. The offer is conditional on Schibsted acquiring 100 percent

of shares in the company and approval of the acquisition by the Swedish

Competition Authority. The offer values Hemnet at SEK 1,500 million (EV) on a

100 percent basis.

Schibsted will finance the acquisition through existing debt facilities. There

are currently no plans to issue new equity.

Hemnet is a well-run company with a very strong market position of close to 100

percent of homes for sale in Sweden, which strengthens and complements

Schibsted's online classified assets in the country. Schibsted has extensive

expertise in developing online classified services and digital media, and will

be a stable forward-looking owner. Presently, Schibsted has a strong position in

real estate verticals in Norway, France, Spain and Austria. Schibsted will be a

neutral owner without pre-existing commitments to independent realtors, and will

manage and develop Hemnet without special interests in cooperation with the

entire realtor industry.

Hemnet had revenues of SEK 119 million with an EBITDA of SEK 26 million in

2013. Revenues in 2014 were SEK 162 million with an EBITDA of SEK 34 million.

Hemnet invoice all real estate sellers directly and the sum on the invoice is

split 50/50 between Hemnet and the realtors. Good growth and synergies with

Blocket Bostad is expected. Finn Real Estate in Norway has twice the revenue of

Hemnet in a market with half the population.

An acquisition of Hemnet will amplify Blocket's successful entry into the online

classifieds real estate market which started with the launch of Blocket Bostad

in 2011.

"Blocket Bostad has been strategically important to us. We have gotten to know

the realtor industry, built valuable relationships with realtors and developed a

very good real estate vertical. I am proud of what the team in Blocket Bostad

has achieved in such a short time period. At the same time, we acknowledge that

Hemnet has a particularly strong position in the Swedish market," says Rolv Erik

Ryssdal, CEO Schibsted Media Group.

Contact person:

Trond Berger, CFO. Tel: +47 916 86 695

Oslo, 8 May 2015

SCHIBSTED ASA

Anders Christian Rønning

Investor Relations Officer

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1920008]