MTG announced on 31 July that it had signed an agreement to acquire 100% of Nova Televizia from Antenna Bulgaria on a cash and debt free basis for EUR 620 million in cash. The Nova commercial TV channel is the second largest free-TV channel in Bulgaria and is broadcast under a national terrestrial free-TV license, as well as on cable and satellite networks. The Group announced on 27 August that it had secured a new SEK 3,000 million credit facility, in order to fully finance the acquisition. The Group announced on 16 October that it had completed the acquisition of 100% of Nova Televizia and that the operations would be consolidated from that date.
CTC Media, Inc. acquired 100% of DTV Group on a cash and debt free basis for USD 395 million in cash on 16 April and DTV Group was deconsolidated from that date. The transaction gave rise to a SEK 1,150 million net gain (after accounting for the elimination of MTG’s 39.4% shareholding in CTC Media), and was not subject to taxation.
MTG’s subsidiary CDON completed the acquisition of Gymgrossisten Nordic AB for SEK 197 million in cash. As at 6 February 2008, MTG controlled 99.42% of the issued and outstanding shares. The company was delisted from First North on 29 February 2008, and after a mandatory tender MTG became the owner of the remaining outstanding shares on 24 November 2008. Gymgrossisten is a leading online supplier of nutritional supplements and has been consolidated since 1 February. Its results are reported within the Online business area.