Eniro makes a claim for additional purchase price for the sale of Proff
Eniro AB (publ)[1] ("Eniro" or the "Company") has made a claim for an additional payment of SEK 24 million for the sale of Proff to Asiakastieto Group Plc and its Swedish subsidiary UC AB ("Asiakastieto").
On 20 May 2019, the Company announced that Eniro had entered into an agreement regarding the sale of Proff to Asiakastieto. On 1 July 2019, Eniro announced that the sale of Proff was completed. According to previously published press releases, the purchase price for the sale amounted to SEK 120 million, with addition of an annual interest of five percent during the period 1 January 2019 – 1 July 2019 of approximately SEK 3 million. This purchase price, including the annual interest, has been paid by Asiakastieto.
Eniro has made a claim to Asiakastieto regarding payment of additional purchase price for the sale of Proff. Eniro has required Asiakastieto to pay an additional purchase price of SEK 24 million for the sale of Proff, corresponding to the net cash in Proff as per 31 December 2018 and a total purchase price for the sale of Proff of approximately SEK 144 million.
The difference between the purchase prices is due to a clerical error in the share purchase agreement where enterprise value had been incorrectly inserted instead of equity value, i.e. the net cash in Proff was not included in the purchase price.
For more information, please contact:
Magdalena Bonde, President and CEO, tel: +46 8 553 310 00
This information is information that Eniro AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication through the agency of the contact person above on August 15, 2019 at the time stated by Eniro's news distributor Cision at the time of publication of this press release.
Eniro is a Nordic tech company that helps small and medium-sized companies with digital marketing. Eniro also has a search service that aggregates, filters and presents information to help individuals find and come into contact with each other and with companies. The company has about 1,100 employees and operates in Sweden, Norway, Denmark and Finland through the local domains eniro.se, gulesider.no, krak.dk and degulesider.dk, and Each week, Eniro Group’s digital services have about six million unique visitors. Eniro is listed on Nasdaq Stockholm [ENRO] and its head office is located in Stockholm.
This document has been prepared in Swedish and translated into English. In the event of any discrepancies between the Swedish and the translation, the former shall take precedence.
[1] Through its subsidiaries Eniro Sverige AB, Eniro Holding AS and Krak A/S.