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NZZ acquires a 25% stake and becomes a strategic shareholder in APG|SGA, Switzerland's leading out-of-home media company
[Ad hoc announcement pursuant to Art. 53 LR]
NZZ acquires a total shareholding of 25% in APG|SGA SA from the existing shareholders JCDecaux SE and Pargesa Asset Management S.A. (a wholly-owned subsidiary of the Belgian CNP Group). An agreement for this transaction was signed by the parties. The shares will be acquired at a price of CHF 220 per share. The transaction is expected to be completed in the coming days.
After completion of the transaction, NZZ will hold a stake of 25%, JCDecaux SE of 16.44% and Pargesa Asset Management S.A. of 13.86% in the company.
Dr. Daniel Hofer, Chairman of the Board of Directors of APG|SGA SA said: "In the last months, the Board of Directors has examined various options regarding the future composition of the company's shareholder base. We conducted a comprehensive process after the two long-standing anchor shareholders had announced the intention to sell or reduce their stakes. The acquisition of 25% of the shares in APG|SGA by NZZ from JCDecaux SE and Pargesa Asset Management S.A. is a convincing result of this process for the company and all stakeholders. NZZ represents high-quality standards, it pursues a long-term and value-orientated approach, and it has excellent knowledge of the Swiss business. The Board of Directors is therefore pleased to welcome NZZ as a new shareholder in APG|SGA. It is planned that the Board of Directors will propose a representative of NZZ for election to the Board of Directors at the next Annual General Meeting."
Isabelle Welton, Chairwoman of the Board of Directors of NZZ said: "NZZ is strategically focusing on its core business of journalism with a liberal compass, supported by revenues from subscriptions and advertising. With this transaction, NZZ is participating in the growing business in advertising markets in the out-of-home segment. APG|SGA and NZZ are two premium brands with strong roots in the Swiss market and a history going back to over a hundred years. We speak the same language and share the same core values; we stand for quality, relevance and maximum credibility. The increasing digitalization of the advertising markets offers additional growth opportunities for both NZZ and APG|SGA."
