April 20, 2007
AS Kuldne Börs acquires a share in Estonian Auto24
Sanoma has acquired through its subsidiary AS Kuldne Börs a 20 per cent share in Auto24, the leading market place for used and new cars in Estonia. The seller is 24 Holding OÜ.
The service is used weekly by 200,000 people, with the database continuously including 20,000 cars for sale. Auto24 also publishes Estonia's largest second-hand car magazine, which is freely available in 30 locations throughout the country.
AS Kuldne Börs is Estonia's leading market place for classified advertising, and it has recently strengthened its position in the online market in particular.
"Our goal is to further strengthen our market share in Estonia's growing classified advertising market. Buying a share in Auto24 will support the achievement of this goal," says Pekka Harju, President of Ilta-Sanomat Oy.
"The technological solutions and expertise of Auto24 can also be applied to our service. Together we will be able to provide our customers with even better service," says Margus Tomberg, President of AS Kuldne Börs.
In connection with the transaction, AS Kuldne Börs will change its name to AS Sanoma Baltics.
AS Sanoma Baltics (formerly AS Kuldne Börs) is a subsidiary of Ilta-Sanomat Oy. Ilta-Sanomat Oy is part of the Sanoma business division of the SanomaWSOY Group.
SanomaWSOY is the leading media group in the Nordic region, operating in versatile media fields in over 20 European countries.
Pekka Harju, President, Ilta-Sanomat O
tel. +358 9 122 3600
Margus Tomberg, President, AS Sanoma Baltics (AS Kuldne Börs),
tel. +372 620 8884
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