euro adhoc: Lycos Europe N.V.
Strategic management decisions
LYCOS Europe
N.V. to sell its investment in Seznam.cz, a.s. for a consideration of EUR 65
million
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information
02.04.2007
Haarlem / Netherlands, April 02, 2007 - LYCOS Europe, one of the
leading European portal providers and online advertisers, today
agreed with Tiger Holding Four S.à.r.l and Miura International
S.à.r.l. about the sale of its investment in Seznam.cz, a.s
("Seznam"), a portal provider based in Prague, Czech Republic.LYCOS investment represents 30 percent of the share capital in Seznam and is accounted for as an available-for-sale financial instrument with a carrying amount of EUR 69 thousand. Both parties together will take over all of LYCOS shares for a consideration of EUR 65 million in cash. The parties expect to close the transaction within 10 business days. The impact on the cash position and net income of LYCOS Europe is expected to be equal to the consideration deducted by transaction costs and the investments carrying amount.
About Lycos Europe Lycos Europe (ISIN NL0000233195) is one of the leading European internet destinations operating a pan-European network of websites in seven languages. The company's combination of search, communication services, content channels, Internet access, homepage building and online communities addresses a wide range of target groups. The Lycos Europe Network provides an attractive medium not only for consumers but also for advertisers and e-commerce partners throughout Europe. Every month about 31 million users visit the Lycos sites and by Lycos Europe distributed partner sites in Europe. With a network of websites covering Austria, Denmark, France, Germany, Great Britain, Italy, the Netherlands, Spain, and Switzerland, Lycos Europe has a large geographical reach in Europe.
end of announcement euro adhoc 02.04.2007 17:01:41
Further inquiry note:
LYCOS Europe
Analyst Relations
Sascha Wittler
T: +49-(0)5241-80-71134
F: +49-(0)5241-80-671134
E: sascha.wittler@lycos-europe.com
Heike Meyer
Public Relations Manager
Telefon: +49(0)5241-80-71051
E-Mail: heike.meyer@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
Euronext - Paris / free trade
Bayerische Börse / free trade