Vend Marketplaces ASA

M&A Activity • Nov 13, 2014

Schibsted ASA (SCH) - Joining Forces to Develop Classifieds

Schibsted ASA (SCH) - Joining Forces to Develop Classifieds

Schibsted, Naspers, Telenor and Singapore Press Holdings (SPH) today announced

an agreement to establish joint ventures for the development of their online

classifieds platforms in four key markets - Brazil, Indonesia, Thailand and

Bangladesh.

The transaction will bring substantial benefits to consumers. Combining the

platforms will make it faster and easier than ever for people to trade and turn

their items into cash. They would be able to choose from a wider selection of

items and be more successful in selling their own items to a larger audience of

buyers. By coming together, the businesses would also be able to share cost,

expertise and people to more effectively build awareness of the benefits of a

vibrant online classifieds offering to consumers.

The ownership structure in the joint ventures will be as follows:

* Brazil: 50.0% Naspers and 50.0% SnT Classifieds*

* Indonesia: 64.0% Naspers and 36.0% 701 Search*

* Thailand: 55.9% 701 Search and 44.1% Naspers

* Bangladesh: 50.3% SnT Classifieds and 49.7% Naspers

*SnT Classifieds is an equal shareholding joint venture between Schibsted and

Telenor and 701 Search is an equal partnership joint venture amongst Schibsted,

Telenor and SPH.

As part of the agreement, 701 Classifieds will transfer its online classifieds

business in the Philippines to Naspers, who will manage the operation. This

would allow 701 Search to focus its efforts in Thailand. In certain other

markets in Latin America and Asia Schibsted, SnT Classifieds and 701 Search,

respectively, acquire Naspers' operations. At the same time, Naspers acquires

the operations of Schibsted, SnT Classifieds and 701 Search in certain other

markets.

Commenting on the transaction, Rolv Erik Ryssdal, CEO of Schibsted Media Group,

said "Schibsted, our existing partners and Naspers have all been at the

forefront in developing high quality, online market places for consumers wanting

to buy and sell in a number of emerging markets. By joining forces, we will be

able to further develop these market places even more efficiently".

Schibsted expects that the transaction will result in a gain in the range of NOK

300-400 million. The transaction is not expected to have any significant tax

effects, and it is cash neutral. The investment spend affecting Schibsted's

profits is likely to go down significantly going forward. However, we are

prepared to invest necessary amounts in order to develop profitable markets.

The transaction is subject to EU approval and is expected to close in early

Conference call details:

A joint conference call has been scheduled for 09:00 GMT on 14 November 2014.

The company representatives on the call will be:

* Schibsted: Rolv Erik Ryssdal (CEO), Trond Berger (CFO) and Terje Seljeseth

(CEO Schibsted Classified Media)

* Naspers: Bob van Dijk (CEO), Martin Scheepbouwer (CEO Classifieds), Mark

Sorour (CIO)

Details are as follows:

Dial in 5-10 minutes prior to the start time.  Confirmation Code: 1806273

United Kingdom: +44(0)20 7784 1036

USA: +1 212 444 0412

Hong Kong: +8523071 3092

Singapore: +656622 1089

South Africa: +2711 019 7076

Norway: +472350 0486

Brazil: +5511 3351 7256

Replay details (available for 7 days until 23:59 on 19 November 2014).

Confirmation Code: 1806273

United Kingdom: +44 (0)20 3427 0598

USA: +1 347 366 9565

Hong Kong: +852 3011 4669

Singapore: +65 3158 1174

South Africa: +27 11 019 7025

Norway: +47 2100 0498

Contact information:

Investors/analysts:

Trond Berger, CFO, trond.berger@schibsted.no, +47 916 86 695

Jo Christian Steigedal, VP Investor Relations, jcs@schibsted.no, +47 415 08 733

Media:

Anders Rikter, Director of Communications, anders.rikter@schibsted.no

+47 920 84 996

Oslo, 13 November 2014

SCHIBSTED ASA

Jo Christian Steigedal

VP Investor Relations

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1871335]