OREANDA-NEWS. April 24, 2015. As a result of the merger of AS Eesti Ajalehed and AS Delfi, the Delfi group structure will be changed. Currently all the local Delfi companies are 100% owned by Latvian company SIA Delfi Holding which is 100% subsidiary of AS Ekspress Grupp. SIA Delfi Holding will sell its participations to AS Ekspress Grupp after which the local Delfi companies will be directly owned by AS Ekspress Grupp. The new structure reflects better the actual governance of the companies which has changed in recent years due to economic reasons.

AS Delfi as acquiring company will merge with AS Eesti Ajalehed on 1 July, 2015. The name of the merged company will be AS Ekspress Meedia. Also the capital structure of the company has been revised. To adapt it to actual needs the share capital of AS Delfi will be increased by bonus issue and then later reduced. During the increase and reduction of the share capital the number of the shares remains the same but the nominal value of the shares will change. After the above transactions the share capital of the new mergered company will be 240 000 euros and the shareholders’ equity will remain ca 14 million euros.