SAJTÓKÖZLEMÉNYEK | | Metro International divests Metro Hungary's operation and enters into franc...


Metropol: Metro International divests Metro Hungary's operation and enters into franchise agreement
Országos | 2011-06-08 | Huginonline



Metro International S.A. ("Metro") today announced that it has entered into an agreement for the sale of its Hungarian operation to Megapolis Media Inc.

As a part of this transaction, Metro has entered into a franchise agreement with the new owners who will continue to publish the Metro newspaper in Hungary under the brand name Metropol.

The transaction was completed yesterday and Metro Hungary will no longer be consolidated in Metro's books from 1 June. Metro is expected to receive revenues under the new franchise agreement from 2013 onwards. The purchase price of Metro Hungary is €0.7 million.

Péter Hivatal, Managing Director of Metro Hungary, commented: "The Metro concept is successful in Hungary. The attractive brand and the strong market position on the national newspaper market were essential for the new owner to invest in Metropol. This means business as usual for our readers and staff, and we look forward to strengthen the newspaper even further in the future."

Per Mikael Jensen, President and CEO of Metro International, added: "The divestment of Hungary is one of several transactions that Metro has completed in order to further strengthen the focus on emerging markets. Metropol will remain in the Metro portfolio as a franchise and will continue to benefit from, and contribute to, the global network."







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