euro adhoc: Lycos Europe N.V.
Mergers - Acquisitions - Takeovers
Aller
Svenska AB to acquire LYCOS Europe's Swedish portal section
Ongoing
negotiations about sale of Swedish Access business
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
02.10.2006
Haarlem/Netherlands, October 1, 2006. LYCOS Europe N.V. (ISIN NL000023319), one of Europe's leading portal providers and online advertisers, is going to sell the portal section www.spray.se of its Swedish subsidiary Spray to the media company Aller Svenska AB with effect from September 29, 2006. The purchase price amounts to around EUR 16 million (SEK 150 million) in cash. The transaction will have a positive one-time effect on LYCOS Europe's net result already for the third quarter of 2006 of around EUR 14.5 million. LYCOS Europe therefore adjusts the result guidance for Q3/2006 and now expects a net income between EUR 8.5 million and EUR 10.0 million.
The agreement between LYCOS Europe and Aller Svenska AB also includes the ongoing supply with diverse web services being developed by LYCOS Europe such as Spray Mail, Spray Chat, Spray Blogs, Spray Hosting and Spray Dating in the future. In addition to the collaboration for these products both partners agreed upon a co-operation for international online advertising sales. By doing so, spray.se will still be integrated into LYCOS Europe's pan-European sales network.
The negotiations with another prospective buyer for LYCOS Europe's Swedish access business of Spray are ongoing.
The Swedish portal Spray (www.spray.se) and the access business in Sweden belong to LYCOS Europe's 100 percent subsidiary Spray Network AB. The company with headquarters in Stockholm/Sweden has a staff of 54 employees, whereof 17 belong to the portal business.
end of announcement euro adhoc 02.10.2006 07:53:49
Further inquiry note:
Kay Oberbeck, director PR & IR
Tel.: +49 (0)5241 8071055
E-Mail: kay.oberbeck@lycos-europe.com
Branche: Software
ISIN: NL0000233195
WKN: 932728
Index: Prime All Share, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade