Everysport Media Group AB (publ.) has completed the acquisition of Trav og Galopp- Nytt
Everysport Media Group AB (publ.) (ESMG) announces today that the previously communicated acquisition of Trav og Galopp-Nytt AS (TGN) has been completed and TGN is now part of ESMG.
-We now have all the components in place to grow our business further in Norway and I am very impressed by the group of new employees who are now joining ESMG, says ESMG’s CEO Hannes Andersson.
Transaction highlights:
- TGN is Norway's largest media around horseracing
- The acquisition includes Trav og Galoppnytt (tgn.no), hesteportalen.no, hest.no and hunden.no
- TGN will be integrated with ESMG's existing operations in Norway and create Norway's leading media house around horseracing. In the long run, more sports-related media products will also be launched.
- TGN has sales of approximately NOK 20 million and EBIT for 2020 is forecasted to be approximately NOK 0.1 million.
- ESMG acquires TGN for a purchase price of NOK 4 million. The purchase price will be paid upon closing day March 1st 2021.
- TGN has a strong management and CEO Kristian Skullerud will be the new head of ESMG's operations in Norway.
- The purchase price will be financed through ESMG's existing cash
- Sellers are private individuals in Norway.
Any questions answered by:
Hannes Andersson, VD Everysport Media Group AB, tel: +46 70 736 56 25
e-mail: hannes.andersson@esmg.se
Kristian Skullerud, VD Trav og Galopp-Nytt AS, tel: +47 909 10 484,
e-mail: kristian@tgn.no.
This information is such that Everysport Media Group AB (Publ.) is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made publicly available by the Company’s contact person on March 1st, 2021.