AS Ekspress Grupp sells a shareholding in a Latvian company

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...

AS Delfi, 04/08/2025 (informazione.news - comunicati stampa - editoria e media)

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
+372 512 2591
mariliis.ryytsalu@egrupp.ee