Ekspress Grupp Divests Stake in Latvian Digital Lending Platform for EUR 4.2 Million

Ekspress Grupp, a leading Baltic media conglomerate, has announced the sale of its 25.48% stake in the Latvian company SIA Altero. The transaction, executed through its fully owned subsidiary AS Delfi and a related financial group controlled by shareholder Hans Luik, was finalized on August 4, 2025. The deal involved a cash payment of EUR 4.2 million for the shares. This sale was based on assessments by company management and independent financial advisors, Ernst & Young Baltics. SIA Altero operates digital platforms in the Baltic states that facilitate loan comparisons and brokerage services for consumers and businesses. In 2024, the company reported a turnover of EUR 7.8 million and a net profit of EUR 1.8 million. The divestment will reduce Ekspress Grupp's investments in affiliates by EUR 2 million, resulting in a one-time net profit of the same amount. Additionally, the company plans to settle a EUR 1.8 million loan associated with its initial investment in Altero. This transaction is classified as a related-party deal but is not deemed significant under NASDAQ Tallinn regulations. Management confirms that certain supervisory board members with potential conflicts of intere...