AS Ekspress Grupp sells a shareholding in a Latvian company

AS Delfi, a 100% subsidiary of AS Ekspress Grupp in Latvia, and OÜ Aktiva Finance Group, company indirectly controlled by the majority shareholder of Ekspress Grupp, Hans Luik, concluded a share sales agreement on 4 August 2025, according to which AS Delfi will sell its 25,48% shareholding in SIA Altero (registry code 40103981737) to OÜ Aktiva Finance Group under the following main conditions: 

1)      the sales price of the shareholding is EUR 4,2 million;

2)      the transaction price is paid in cash after the sales contract is concluded. 

To determine the fair price of the transaction, Ekspress Grupp relied on the management's assessment and the analysis of the independent financial advisor Ernst & Young Baltics. 

SIA Altero group operates the financial comparison and brokerage platforms in Latvia, Lithuania and Estonia. The platform allows individuals and businesses to submit a single application to receive offers from multiple lenders at once for consumer loans, business loans, car leasing, refinancing, and loan consolidation. Altero group's consolidated turnover in 2024 was EUR 7.8 million and net profit was EUR 1.8 million. 

The transaction will result in a EUR 2 million reduction in the investments in affiliates and Ekspress Grupp will earn a one-off net profit of EUR 2 million. After the transaction, Ekspress Grupp will repay EUR 1,8 million loan liability related to the financing of the initial acquisition of Altero. 

 The transaction is not considered as a significant transaction according to the rules and regulations of the NASDAQ Tallinn Stock Exchange “Requirements for Issuers”. The transaction is considered as a transaction with a related party. Ekspress Grupp confirms that the members of the Group’s Management Board and Supervisory Board Member Sami Seppänen is not personally interested in the transaction. The Group’s Supervisory Board members Argo Virkebau and Ülar Maapalu have conflict of interest, as they serve on the Management Board and Supervisory Board, respectively, of Aktiva Finance Group OÜ. They were not involved in the decision-making process. 

Mari-Liis Rüütsalu

Chairman of the Management Board

AS Ekspress Grupp is the leading Baltic media group whose key activities include web media content production, and publishing of newspapers, magazines and books. The Group also operates an electronic ticket sales platform and ticket sales offices in Latvia and Estonia, offers digital outdoor screen service in Estonia and Latvia. In addition, the Group companies organize conferences, trainings and events mainly in Estonia and Lithuania but also in Latvia. Ekspress Grupp launched its operations in 1989 and employs about 1000 people.