Observer sells associated company
Observer sells associated company Observer is selling its interest in jointly owned management and strategy consultant SMG Consulting, thereby concentrating Observer's operations on media and market monitoring, publicity analyses and target group communication. Observer is selling its holding in the associated company SMG Consulting to the other co-owner, Normann & Partners, which in turn is owned by the senior consultants in SMG. The sale is effective March 31, 2001. The total price is based on the net worth. SMG, which is active in management and strategic consulting, operates in Sweden, Denmark and Finland. The company had a turnover of approximately SEK 44 million in 2000. "The sale of SMG is an element in the continued concentration on our core business," says Observer CEO Robert Lundberg. "It also gives SMG a greater opportunity to develop its operations on its own terms." As a result of a shareholder agreement, SMG became as associated company of Observer as of January 1, 2001. About Observer AB Observer AB (formerly Sifo Group), quoted on the O-list of the OM Stockholm Exchange, is active in media and market monitoring, analysis and evaluation, target group identification and information services for PR and IR purposes. On a rolling twelve-month basis, Observer AB has a turnover of slightly over SEK 1,100 million and around 1,800 employees in the UK, Sweden, Germany, Norway, Finland, Denmark, Portugal, Estonia, Latvia, and Lithuania. For further information, please contact: Robert Lundberg, President and CEO Observer AB, phone +46 8 507 410 10, e-mail robert.lundberg@observergroup.com Per Blixt, Senior VP Corporate Communications Observer AB, phone +46 8 507 410 12/+46 70-549 28 08, e-mail per.blixt@observergroup.com Elisabet Annell, senior partner Normann & Partners, Phone + 46 8 507 432 20, e-mail elisabet.annell@smg.se ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/03/16/20010316BIT00240/bit0002.doc http://www.bit.se/bitonline/2001/03/16/20010316BIT00240/bit0002.pdf