A-pressen sells its stake in Komsomolskaya Pravda to ESN
Moscow/Oslo - 31 July 2007. A-pressen has sold to ESN Group a 25.05% minority stake in Publishing house "Komsomolskaya Pravda" ("KP").
Publishing house "Komsomolskaya Pravda" is one of Russia's leading print media businesses. Komsomolskaya Pravda, its flagship national newspaper is Russia's largest daily, with a circulation of 800,000 on weekdays, and a weekend edition, which is printed in almost three million copies. Sovetskiy Sport, Express Gazeta and the tv-guide Teleprogramma are also products of the publishing house.
A-pressen became a shareholder in KP in 2002 in partnership with Prof-Media. In 2007 ESN Group acquired Prof-Media's interest in Publishing house "Komsomolskaya Pravda". KP has experienced tremendous growth between 2002 and 2006.
"We are very pleased about the financial results achieved in Komsomolskaya Pravda during these last years. We have had a long and fruitful cooperation with Prof Media, a leading Russian media group, and it was natural for us to consider the sale of our stake upon their exit from the business. We got a good offer, and we are happy with the solution that now has been found, where ESN Group is also buying our shares", says acting A-pressen CEO Even Nordstrøm.
ABOUT A-PRESSEN: A-pressen is a Norwegian media corporation with 2,700 employees. Its business activities in Norway include newspapers, printing, TV and electronic media. A-pressen is the largest owner of commercial television in Norway. In addition, A-pressen is involved in newspaper and printing operations in Russia.
ABOUT ESN GROUP: The ESN Group is an investment holding company that manages assets in energy, media and transport sectors. ESN Group is a Russian partner of Italian energy major Enel on several projects.
Since 2003 Enel ESN Energo has been performing management of North-West TPP. By November 2006 the management company completed all the tasks set by RAO UES which include construction of 450 MW unit.
ESN Group launched an electricity trading company "Rusenergosbyt" that by 2005 became the largest Russian independent energy trader. In 2006, 49.5% of "Rusenergosbyt" were acquired by Enel that made the latter the first foreign strategic investor in Russian energy sector.
ESN Group owns an oil-loading facility at the railway station Uyar (Krasnoyarsk region) which is in operation since 1 of April 2006.
In January 2006 ESN Group set up a media holding that by now owns the most commercially successful publishing house "Komsomolskaya Pravda" and transport-focused media-assets "RZD-Partner".
Even Nordstrøm A-pressen Tel.: +47 411 89 012
Marianna Belousova ESN Tel.: +7 495 139 54 93