Nordic Business Report-September 28, 2006-Media & Research Group ASA acquires Tibe Reklame Holding AS
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The Norwegian advertising and marketing services group Media & Research Group ASA said on Thursday (28 September) that its subsidiary Nordic Marketing Group AS has agreed to acquire communications group Tibe Reklame Holding AS.
The purchase price depends on future performance, but is expected to be in the range of between NOK21.5m and NOK31.5m. The consideration will be paid in a combination of cash and shares.
Tibe Reklame Holding is the parent company in a group of nine companies providing advertising, communication, PR and digital services. The group reported a turnover of NOK86.3m in 2005.
The acquisition is part of Nordic Marketing Group's preparations for listing in November or December this year.
One Norwegian krone (NOK) is worth approximately 0.08 British pounds (GBP).
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