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VLT acquires Gratistidningar i Sverige

September 2008

VLT AB has been advised by Mannheimer Swartling in connection with the acquisition of 66.7 per cent of Gratistidningar i Sverige AB (GISAB) from the Danish Söndagsavisen AS group.

GISAB owns the local Stockholm "Mitt i" newspaper which has 31 editions distributed in various areas of Stockholm, as well as Smé-Journalen in Eskilstuna, Strängnäs-Journalen, Örebroar'n and Södertälje Posten. The newspapers are published weekly and constitute a combined volume exceeding one million copies.

The purchase price amounts to SEK 400 million and the transaction is subject to approval by the Swedish Competition Authority. The agreement also provides for acquisition of the remaining 33.3 per cent of the shares by the end of 2010 for a purchase price of SEK 160 million plus an earn-out.

The head of the firm’s team was the partner Clas Nyberg and also included, among others, Carina Björndal (project leader) and the partner Tommy Pettersson (competition law issues).

Mannheimer Swartling is the leading business law firm in the Nordic region. The firm works with many of Sweden’s, and the world’s, leading major and mid-sized companies and organisations. A common feature for the firm’s clients is that law plays a vital role in their business success.

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