Schibsted ASA (SCHA/SCHB) - Schibsted to spin off and IPO international online classifieds - Seite 2

Although Schibsted plans to retain a significant ownership position in MPI, the new, separately listed company will have a simplified governance structure with no ownership or voting limitations. Initially MPI will inherit Schibsted ASA's structure with A- and B-shares carrying different voting. However, Schibsted as a majority owner will support an amalgamation into only one share class in due course. The new company will be well equipped to play an active role in any structural development of the online classifieds industry.

Schibsted ASA - Digital growth company with a Nordic base and global ambitions

   
Schibsted is deeply embedded in the daily lives of consumers in the Nordic region. Every week Schibsted reaches 79 percent of consumers in Norway^[1] and 82 percent in Sweden^[2], contributing to the everyday lives of millions of users in these markets.

Over the past two decades, Schibsted has transformed from a newspaper holding company into a large online media company. Schibsted has a proven track record of leveraging its consumer relations and forward-looking mindset to incubate and develop new business models with international potential to the benefit of shareholders, society, customers and employees. Finn, Blocket, Leboncoin, OLX in Brazil and - recently - Lendo are great examples of this. Positioned in one of the world's most dynamic regions in terms of digital services, the company will continue to be on the forefront of innovation and structural growth.

Schibsted will continue to deepen its customer relationships through its leading consumer brands and leverage its ability to collect and process data to develop its consumer and advertising offerings. We will build on the combined forces of Finn/Blocket/Tori, personal finance-assets like Lendo, and the publishing activities, and believe developing these assets closely coordinated is the best way to maximize the potential of each one of them. As an integral part of this move, the company's special dedication to developing, independent and trusted editorial content will prevail.

In the last 10 months, Schibsted has conducted a strategic review of Lendo which has provided further evidence of Lendo's potential as a company. We firmly think that continued full ownership is in our shareholders' best interest, despite significant interest from potential partners.  We are excited to see the potential for targeted international expansion in small- and medium-sized markets. Lendo plans to launch activities in Poland, Denmark and Austria i 2018 and 2019. On this basis, Lendo will continue as a fully-owned entity, constituting a driving force in Schibsted's cluster of personal finance-related operations.