Foreign Investors Council
47, Gospodar Jevremova Street, IV Floor, 11000 Belgrade, Serbia
Phone: +381 11 3281 958, 3281 965
e-mail: office@fic.org.rs

Member News

Raiffeisen Banka and NF Innova Receive Prestigious “Finovate” Award for “iKeš” Loan

The first true online cash loan in Serbia, “iKeš”, is the winner of the “Best Consumer Lending Platform” award in the international selection of “Finovate Awards”. Raiffeisen banka’s loan product, created in cooperation with company NF Innova, is the first banking solution from Serbia to win an award in this competition of the best global digital and technology innovations.

“This prestigious award confirmed that ‘iKeš’ really is a revolutionary loan product, not just in our local banking market”, stated Petar Jovanović, Deputy Chairman of the Managing Board of Raiffeisen banka, on this occasion. “When we introduced this online loan last year, we were pioneers not just in Serbia and this region, but also in the whole Raiffeisen Group, and this award is proof that, as far as innovations are concerned, we can compete internationally as well”.

“iKeš” is a loan entirely processed and disbursed online and available to all citizens, even to those who are not clients of Raiffeisen banka. At the outset of the Covid-19 virus outbreak, such manner of obtaining a loan gained in significance since it enables the client fast and easy access to financial means without any physical contact. In the course of the preceding months, the bank has been registering a growth of approved “iKeš” loans, as well as a high level of customer satisfaction.

Constant improvements of digital services and introducing state-of-the-art technologies are the main features of the long-term partnership between Raiffeisen banka and company NF Innova.

“It was through our long-standing partnership that Raiffeisen banka positioned itself as an innovator in the market as concerns digital services and by using the NF Innova digital banking platform, the bank has the opportunity to continue innovating internationally and this award proves it”, stated Vasa Šegrt, General Manager of NF Innova. ’’We will continue to improve digital services offered by Raiffeisen banka in our further mutual cooperation“.

“Finovate Awards” gathers global banks, fintech companies, business accelerators and individuals, who compete in 25 different categories. The jury deciding on the winners is made up of leading experts from various industries, managers of large companies, media analytics, founders of fintech companies, etc. This year, they had the tough task of choosing the best in different categories among a record number of solutions submitted.

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Raiffeisen banka a.d. Beograd is a member of Raiffeisen Bank International, one of the largest banking groups in Central and Eastern Europe. It began its business activities in Serbia in 2001 and is now developing its activities in three segments: retail banking, corporate banking and treasury and investment banking. For additional information, please contact the Marketing & PR Department of Raiffeisen banka, phone No. 011/2207-306 or e-mail: marketing@raiffeisenbank.rs.

NF Innova company, member of New Frontier Group, is one of the largest digital banking vendors in Europe. It offers its unique product ‘iBanking’ to visionary financial institutions and guarantees flawless user experience on all digital channels.

For additional information, please contact the Sales & Marketing Department of the company at e-mail: sales@nfinnova.com.

Raiffeisen banka Brings Apple Pay to Visa Cardholders

Belgrade, June 30, 2020 — Raiffeisen banka today brings its customers Apple Pay, a safer, more secure and private way to pay that helps customers avoid handing their payment card to someone else, touching physical buttons or exchanging cash — and uses the power of iPhone to protect every transaction. Customers simply hold their iPhone or Apple Watch near a payment terminal to make a contactless payment. Every Apple Pay purchase is secure because it is authenticated with Face ID, Touch ID, or device passcode, as well as a one-time unique dynamic security code.

Apple Pay is accepted in grocery stores, pharmacies, taxis, restaurants, coffee shops, retail stores, and many more places. Customers can also use Apple Pay on iPhone, iPad, and Mac to make faster and more convenient purchases in apps or on the web in Safari without having to create accounts or repeatedly type in shipping and billing information. Apple Pay makes it easier to pay for food and grocery deliveries, online shopping, transportation, and parking, among other things. Apple Pay can also be used to make payments in apps on Apple Watch.

Security and privacy are at the core of Apple Pay. When customers use a credit or debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted, and securely stored in the Secure Element, an industry-standard, certified chip designed to store the payment information safely on the device. Apple Pay is easy to set up. On iPhone, simply open the Wallet app, tap +, and follow the steps to add Raiffeisen banka’s credit or debit cards. Once a customer adds a card to iPhone, Apple Watch, iPad, and Mac, they can start using Apple Pay on that device right away. Customers will continue to receive all of the rewards and benefits offered by Raiffeisen banka’s Visa cards.

For more information on Apple Pay, visit: https://www.raiffeisenbank.rs/digitalne-usluge/apple-pay/

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Raiffeisen banka a.d. Beograd is a member of Raiffeisen Bank International, one of the leading banking groups in CEE. It began its business activities in Serbia in 2001 and is now developing its activities in three segments: retail banking, corporate banking, treasury and investment banking.

For additional information, please contact the Marketing & PR Department of Raiffeisen banka at phone No. 011/2207-306.

Raiffeisen Banka is “Best Private Bank in Serbia”, as Chosen by “Global Finance“ Magazine

The renowned global financial magazine “Global Finance” awarded Raiffeisen banka the title “Best Private Bank in Serbia” for the year 2024. This is the second title awarded by “Global Finance” to Raiffeisen banka in the private banking segment.

Jelena Aksić, Member of the Managing Board in charge of Retail Banking, stated that the award was proof of fostering a long-term partnership with clients, which was also based on trust and offering high-quality services.

“Another award issued to our bank by ‘Global Finance’ magazine in the private banking segment proves that top-quality global results are reached by nurturing an individual approach, outstanding professionalism and discretion”, Jelena Aksić pointed out.

The award of “Global Finance” magazine speaks of how vital client satisfaction, the clients’ direct link to specialists in Raiffeisen banka, as well as the constant development of digital services are for a comprehensive strategic partnership, Jelena Aksić stressed.

Joseph Giarraputo, founder and editor of “Global Finance” magazine, asserted that private banking was an art form, but also a science, where the knowledge of economic and financial trends was interlinked with a deep understanding of clients’ needs, as stated in the magazine’s press release.

“The award goes to those institutions that deliver both one and the other”, Giarraputo stressed.

As stated in the press release of “Global Finance” magazine, the winners are not always the largest institutions, but the best ones, those whose qualities are highly valued by their clients when choosing their bank.

This is the third title awarded to Raiffeisen in the segment of private banking. The private banking segment of Raiffeisen banka won the double title “Best Bank in the Private Banking Segment in Serbia” in 2021 (“EMEA Finance” and “Global Finance”).

Raiffeisen banka introduced the private banking service in mid-2020, with the idea to offer clients exclusive banking service in accordance with the most contemporary standards.

Raiffeisen Banka Is Awarded Three International Titles in the Digital Banking Segment

The renowned global financial magazine “Global Finance“ awarded Raiffeisen banka with the title “The Best Digital Consumer Bank in Serbia“ for 2023. This is the fourth time the bank was awarded as the best for its digitalization segment in Serbia.

This year, the bank has also been awarded two titles in the sub-categories of this contest for the first time: “The Best Consumer User Experience (UX) Design in Serbia“, as well as The Best Consumer Mobile Banking App in Serbia“.

“We have been awarded the title “Best Digital Consumer Bank in Serbia“ for the fourth time since 2018, which is proof that we started the important process of services digitalization timely, but also that we have done it successfully, by applying the most contemporary global standards“, Zoran Petrović, Raiffeisen banka CEO, stated on this occasion. “We are especially proud of the two additional acknowledgements – ‘The Best Consumer User Experience (UX) Design in Serbia’ as well as The Best Consumer Mobile Banking App in Serbia’. These are the segments where we are investing the most resources and expertise, so these awards are an additional boost for us to continue improving and innovating. The number of clients using digital services is rising constantly and so are their demands. By providing the best user experience, we are confirming that we are monitoring their needs and responding to them in the best manner possible. I am glad this was recognized by leading experts in the field and that it was also confirmed by user satisfaction research, showing that the digital services of Raiffeisen banka are the most innovative in the Serbian market“, he stressed.

The jury of experts, consisting of the leading professionals from company “Infosys“, a global leader in the domain of consulting and technologies, as well as editors of “Global Finance“ magazine, when deciding on the best banks, inspected the following basic criteria: quality of the strategy for attracting digital users and offering services to them, success in educating clients to use the digital offer, growth in the number of clients using digital services, the quality and volume of the offer of digital products and services, measurable benefits acquired through digital initiatives, as well as the design and function of the web site and mobile applications. Concerning the choice of the winning bank in the sub-categories, the jury of experts took into account the quality and success of the particular digital products and services for which the awards were given.

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Raiffeisen banka a.d. Beograd is a member of Raiffeisen Bank International, one of the leading banking groups in Central and Eastern Europe. It began its business activities in Serbia in 2001, and is now developing its activities in three segments: retail banking, corporate banking, as well as treasury and investment banking. For additional information, please contact the Marketing & Communications Department of Raiffeisen banka at the phone No. 011/2207-306 or via the e-mail: marketing@raiffeisenbank.rs.

Raiffeisen Banka Offers a Novelty for Corporates

ONLINE FACTORING FOR LEGAL ENTITIES

Raiffeisen banka introduced an innovative service to the local banking market for the corporate segment – an online factoring platform, Raiffeisen Online Factoring, which has recently become available to clients of Raiffeisen banka, as well as to those who will become new clients in the future.

The service of factoring is a useful instrument for managing cash flow, improving liquidity and the collection of receivables. The bank has been offering this product for a great number of years already and now it has gone a step further by creating an online platform where the client can perform all factoring business in a fast and efficient manner. The option of performing such complex banking activities is especially useful in times of the current pandemic, when it is imperative that company owners and their employees can perform all business activities in as safe an environment as possible. The online platform was created in accordance with the needs of the Serbian market and is completely adjusted to the requirements of the corporate segment in Serbia.

Apart from the collection of receivables, online factoring enables corporates also the following: the option of fast  and easy financing modality without increasing indebtedness, monitoring collection, administration of invoices bought, reduction of administrative expenses, issuing without collateral, better competitive positioning, as well as a range of additional benefits that are available immediately after a factoring contract has been concluded.

The whole factoring process is completed on the platform itself, with online communication with the bank and suppliers/buyers, with full overview of approved and available limits, financing requests, invoices sent for payment and their status, available calculations and reports, etc.

By introducing the online factoring platform Raiffeisen Online Factoring, Raiffeisen banka continues the trend of digitalizing its services while implementing the most state-of-the-art technology solutions in banking. The innovative feature of the platform was accentuated by the fact that the bank was among the first in the Raiffeisen Group to offer this service to its corporate clients. The solution was developed in cooperation with the local fintech startup “Between“ (www.between.rs), a winner in the local “Elevator Lab“ project of the Raiffeisen Group in 2018. This successful cooperation and innovation for the corporate segment is a confirmation of the importance of the banking sector’s synergy with fintech startups.

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Raiffeisen banka a.d. Beograd is a member of Raiffeisen Bank International, one of the leading banking groups in Central and Eastern Europe. It began its business activities in 2001, and is developing its focus in three segments: retail banking, corporate banking, treasury and investment banking. Please contact the Marketing & PR Department of Raiffeisen banka for additional information at the phone No. 011/2207-306.

Raiffeisen Banka Receives VIRTUS Award for Long-Term Partnership with the Yugoslav Drama Theatre

 Raiffeisen banka received the VIRTUS philanthropy award at the annual award ceremony organized by Trag foundation. The Award for Long-term Partnership Between the Corporate and the Non-Profit Sector was bestowed on the bank for its long-standing partnership with the Yugoslav Drama Theatre (JDP).  

The VIRTUS philanthropy award was established in 2007 with the aim to distinguish and support representatives of the corporate sector and citizens, who by their philanthropic activities contribute to the development of communities they live and work in strategically and in the long term.

The partnership between Raiffeisen banka and the Yugoslav Drama Theatre, now in its 16th year, is an excellent example of long-term successful cooperation of the corporate and the non-profit sectors, as well as an example of the mutual benefits that can result from it for the community, with the citizens, fans of high-quality theatre art, benefiting the most.

In the year when Raiffeisen banka is celebrating 20 years of business activities in Serbia, it is proud of the many philanthropic projects it organized during that period. The aim was always to “give back” to the community part of the business success through investing into true values (sports, culture, education), as well as by supporting those who are most vulnerable.

“Among the many partnerships, the long-standing cooperation with the Yugoslav Drama Theatre is especially prominent. It has not only been of the longest duration, but it also reflects in the best manner the bank’s effort to tie its name to true values and support content of the highest quality”, Zoran Petrović, Chairman of the Managing Board of Raiffeisen banka, stated on this occasion. “We are proud of our cooperation with our friends from the Yugoslav Drama Theatre, who have been offering exceptional theatrical content throughout the years not only in our country, but also beyond. An award such as this is very specific, because it is not awarded for measurable business results, but for that which has no material value, albeit contributing to the empowerment of society and maintaining of its spiritual health, which is direly needed, especially in challenging times such as these”.

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Raiffeisen banka a.d. Beograd is a member of Raiffeisen Bank International, one of the leading banking groups in Central and Eastern Europe. It began its business activities in Serbia in 2001, and is now developing its activities in three segments: retail banking, corporate banking, as well as treasury and investment banking. Please contact the Marketing & PR Dept. for all additional information, phone No. 011/2207-306.

Trag is a regional foundation operating in Serbia, Montenegro and Bosnia and Herzegovina. It has been supporting and inspiring citizens for 21 years already to take part actively in the development of their local communities where they live or work. Trag foundation empowers people who believe that common initietives can have a big impact and who wish to initiate positive changes in their communities. In the course of the past two decades, Trag foundation has supported more than 1,500 successful projects through numerous programmes, with more than USD 14 million invested across Serbia and the region.

autor fotografija: Nemanja Knežević/Trag fondacija

RBI sees growth potential in Serbia / signs agreement on the acquisition of Crédit Agricole Srbija A.D. Novi Sad

Vienna/Belgrade, August 5th, 2021

Raiffeisen Bank International AG (RBI) announces that its Serbian subsidiary, Raiffeisen banka a.d. Beograd, has signed an agreement to acquire 100 per cent of the shares of Crédit Agricole Srbija A.D. Novi Sad (a subsidiary of French Crédit Agricole S.A.) along with its fully owned leasing subsidiary CA Leasing Srbija d.o.o. Successful closing of the transaction is subject to inter alia obtaining regulatory approvals.

“We are convinced that Crédit Agricole bank and leasing would complement our operations in Serbia, as we share the same values and corporate culture. I strongly believe that strengthened in this way we could provide innovative products and further enhance our customer experience for even more clients”, stated on this occasion Zoran Petrovic, Chairman of the Managing Board of Raiffeisen banka Serbia.

“Serbia is a very interesting market for us and offers an attractive growth potential. Crédit Agricole Srbija would be an excellent strategic fit to our bank and our leasing operation in Serbia and the acquisition would support our growth ambition in the market”, said Johann Strobl, CEO of RBI.

Crédit Agricole Srbija serves around 356,000 customers. The bank has a leading position in agricultural-business financing (over 20% market share) and thus complements the business profile of Raiffeisen banka a.d. very well. As of Q2 2021 Crédit Agricole Srbija had total assets of EUR 1.3 billion, while Raiffeisen banka a.d. reported total assets of EUR 3.4 billion.

On the basis that deal completion is successful, there is a plan to merge Crédit Agricole Srbija A.D. Novi Sad with Raiffeisen banka a.d. Beograd and CA Leasing Srbija d.o.o. with Raiffeisen Leasing d.o.o. Beograd.

For more information, please contact:

Katarina Gaborović

Marketing & PR Department

Raiffeisen banka a.d. Beograd

Đorđa Stanojevića 16, Beograd

katarina.gaborovic@raiffeisenbank.rs

tel. +381 11 2207 301

Jelena Lapčević

Marketing & PR Department

Raiffeisen banka a.d. Beograd

Đorđa Stanojevića 16, Beograd

jelena.lapcevic@raiffeisenbank.rs

tel. +381 11 2207 306

www.raiffeisenbank.rs

 

Readers of the prestigious Swiss magazine “Auto Illustrierte” were captivated by Abarth 595/695 gamma model and Alfa Rome

The new year began with a triumph for the Abarth brand: for the second time in a row, the Abarth 595/695 model range was awarded the title of the best car by the prestigious Auto Illustrierte magazine in Switzerland. Over 100,000 readers voted, choosing from 422 models currently on the market in 13 categories, each with a particular classification for import vehicles. The victory in the competition for the best car is an additional confirmation of the international success of these small and sports cars and the passion surrounding the “scorpion” in the market. For this reason, the brand expresses its pride in this achievement and thanks the experts and passionate readers of the specialized magazine who chose, for the second time in a row, the Abarth 595/695 range. The secret of this success lies in the two souls of the brand, performance, and style, which make the Abarth 595/695 the ideal vehicle for those looking for the adrenaline rush of the racing world, both in terms of performance and technical content.

Furthermore, the passion for these two models has gained momentum with the new range launched recently, which has been enhanced in line with the strategy of ‘simplicity and customer satisfaction.’ Customers can now configure their Abarth in just three steps. Two models are available – the 165hp Abarth 595 or the 180hp Abarth 695 – offering exhilarating performance, a roaring exhaust, and playful yet bold styling. Both can be mated to the Turismo or Competizione soul, as both a hatchback and a convertible. The first is intended for buyers who like to stand out from the crowd; the other is for die-hard performance and sports-driving fans. Two iconic packages, Tech and Comfort, are available to configure the custom version, reflecting the brand’s core values of performance and style.

The list of awards for the Alfa Romeo brand is remarkable: for the sixth time in a row, the Giulia won first place in the “medium sedan” category. Readers of the Swiss magazine also favored the Alfa Romeo brand in the brand competition, placing the brand of noble Italian sporting spirit since 1910 on the podium in the categories of the best design and best advertising. In addition, the Stelvio triumphed in the “large SUV/SUV” category for the third time in a row. At the same time, the Tonale also won its first title, taking victory over rivals in the “compact SUV/SUV” category.

Daniel Fuchs, Alfa Romeo brand director for Switzerland, said: “We are proud of the awards we have received from the experts and highly demanding readers of Auto Illustrierte magazine. These prestigious awards show how much the Swiss public appreciates the new generation of Alfa Romeo vehicles. The secret to the success of the award-winning models Giulia, Stelvio, and Tonale lies in proverbial excellence, i.e., timeless design, perfect weight distribution, first-class driving dynamics, and segment-leading technological and drive solutions. Therefore, they are unparalleled models that, we are sure, will bring us other great pleasures in the future.”

 

Renowned Financial Magazine “Euromoney“ Awarded Raiffeisen Banka the Title “Best Bank in Serbia“

Raiffeisen banka was awarded with the title “Best Bank in Serbia” at the traditional annual “Euromoney Awards for Excellence 2021“ contest.

“We are always welcoming awards with a sense of pride and responsibility. Now, when they represent a recognition for results achieved in the year in which we faced the pandemic crisis – these two feelings are only more pronounced. We are proud of the fact that we proved our ability to adjust, to maintain offering top service to our clients, even to improve it by introducing numerous innovations in 2020. I am glad that all our efforts and good results have been recognized by the expert public, and this brings us also additional responsibility to continue the same trend in the future“, Zoran Petrovic, Chairman of the Managing Board, stated on this occasion.

The annual contest Euromoney “Awards for Excellence“ was introduced in 1992, as the first of its kind in the global banking industry. This year, the magazine’s jury of experts had the tough task of choosing the best among the greatest number of applications from banks received so far. When deciding on the best, the basic criteria taken into account were both the basic indicators of business success, as well as the quality and innovativeness of the offer, degree of digitalization, as well as the quality of the overall business strategy.

Apart from the award bestowed on Raiffeisen banka in Serbia, “Euromoney“ awarded Raiffeisen Bank International with the title ”CEE’s Best Bank for Wealth Management 2021”.

This is the third award that Raiffeisen banka received since the beginning of the year, after a double award received from ”EMEA Finance” magazine, also as the “Best Bank in Serbia“, but also as the “Best Private Bank in Serbia“.

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Raiffeisen banka a.d. Beograd is a member of Raiffeisen Bank International, one of the leading banking groups in Central and Eastern Europe. It began its business activities in Serbia in 2001, and is now developing its activities in three segments: retail banking, corporate banking, treasury and investment banking. For all additional information, please contact the Marketing & PR Department of Raiffeisen banka at the phone No. 011/2207-306.

Ringier acquires the shares of Axel Springer in Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania

Axel Springer will focus on major strategic core markets / The joint venture between Ringier and Axel Springer in Poland will remain in place and is to continue to see growth.

Ringier AG is further expanding its activities in Eastern Europe and enhancing its international portfolio of digital marketplaces and media: to this end, Ringier acquires all of the shares of Axel Springer in Hungary, Serbia, Slovakia, and the Baltic states of Estonia, Latvia and Lithuania. In Slovakia, the company founder will remain a minority shareholder. In the other countries, the Ringier Group will thus hold 100% of the shares. As part of its growth strategy, Axel Springer will focus on digital business in major strategic markets. The company’s investment focus in the News Media segmet is on Germany, the US and Poland. Accordingly, the successful joint venture between Ringier and Axel Springer in Poland will remain unchanged

Since Ringier Axel Springer Media AG was formed in July 2010, the joint venture between Ringier AG and Axel Springer SE has resulted in one of the largest and most modern media companies in Central and Eastern Europe, with some 3,100 employees. The comprehensive portfolio includes more than 200 digital and print products. In the first half of 2021, digital activities accounted for approximately 85 percent of adjusted EBITDA.

Ringier is continuing its transformation into an international and diversified media company

With the acquisition of the shares of Axel Springer in the joint venture in Hungary, Serbia, Slovakia, Estonia, Latvia and Lithuania, Ringier is continuing its international growth and investment strategy in the field of digital marketplaces and media brands. Thanks to these significant investments, Ringier is strengthening its current activities in Romania and Bulgaria.

Marc Walder, CEO of Ringier AG: «The acquisition of the Axel Springer shares in Hungary, Serbia, Slovakia and the Baltic states is an important milestone in our business development. This transaction is an acknowledgement of our long-term commitment to being a modern media investor in Eastern Europe. The portfolio in these countries suits us ideally and will further strengthen the Ringer ecosystem. In addition, Serbia, Slovakia and Hungary serve as a good basis for expanding our digital sports media strategy. I am pleased that we will be able to further advance our media and digital marketplaces in Poland with Axel Springer. We will work together to continue to make investments in this large and exciting market.»

Axel Springer sets priorities as part of the growth strategy

Axel Springer will continue to focus on its long-term growth strategy. The company is aiming to become a global leader in digital journalism and digital classifieds. In addition to substantial investments in growth fields, this will also require a clear focus on large and strategic core markets. In the News Media segment  central to this is the already highly digitized portfolio in Germany, the USA and Poland.

Jan Bayer, President News Media at Axel Springer SE: «Over the past 11 years, we have worked with Ringier to build Ringier Axel Springer Media AG into one of the most successful companies in Central and Eastern Europe, with strong news brands and successful digital classifieds. As part of our growth strategy, we will focus on our strategic core areas and large markets.This includes Poland with 40 milion people. For them, we will further digitalize and expand our journalistic offerings and classifieds together with Ringier. I would like to sincerely thank our colleagues in Hungary, Slovakia, Serbia, Estonia, Latvia and Lithuania, and everyone at Ringier for the very good collaboration over the past few years.»

Continuation of the joint venture in Poland 

As joint venture partners, Axel Springer and Ringier will focus their future efforts in Eastern Europe exclusively on the Polish market. The partners have been operating media brands with strong revenue and EBITDA there for many years. The continuity of the management of the joint venture is assured with Mark Dekan as CEO.

«When we started the joint venture in 2010 with what was almost entirely a print portfolio (97 percent of revenue), we had the vision of transforming the local print brands into strong digital players in their future media markets. We now generate about 70 percent of sales and 85 percent of earnings from our digital offerings. Together, we have not only brought the existing media brands into the digital age, but we have also created new leading digital media and classified brands that are now among the most relevant offerings in their markets. I would like to thank all of our colleagues in Slovakia, Hungary, Serbia and the Baltic states for their commitment, their passion and their willingness to always go the extra mile. At the same time, I look forward to continuing to expand our activities in the largest market in the region with the Polish team and the joint venture partners», says Mark Dekan, CEO of Ringier Axel Springer Media AG and CEO of the joint venture in Poland.

Axel Springer included its subsidiaries in Poland, the Czech Republic and Hungary in the joint venture Ringier Axel Springer Media AG, which was founded in July 2010. Ringier added its business in Serbia, Slovakia, the Czech Republic and Hungary.

Finalisation of the acquisition

The acquisition of the shares should be completed over the course of 2021. Completion of the transaction requires the approval of the competent local antitrust authorities. Both parties have agreed to keep the sale price and the valuation of the parts of the companies being acquired confidential.

About Ringier

Ringier AG is an innovative, digitalised and diversified Swiss media company operating in Europe, Asia and Africa. Its portfolio includes around 110 subsidiaries in the print, digital media, radio, ticketing, entertainment and e-commerce sectors and leading online marketplaces for cars, property and jobs. As a venture capital provider, Ringier supports innovative digital start-ups. Ringier, a family company founded in 1833 as a publishing house and printing plant, has invested consistently in digitalisation and global expansion in recent years. In 2020, the company’s some 6.800 employees, operating in 18 different countries, generated revenues of 953.7 million CHF. Today, 69 per cent of its operating profit already comes from digital, where Ringier is a leader among European media companies. Ringier’s core values are independence, freedom of expression and a pioneering spirit.

About Axel Springer

Axel Springer is a media and technology company and active in more than 40 countries. By providing information across its diverse media brands (amongst others BILD, WELT, INSIDER, POLITICO Europe) and classified portals (StepStone Group and AVIV Group), Axel Springer SE empowers people to make free decisions for their lives. Today, the transformation from a traditional print media company to Europe’s leading digital publisher has been successfully accomplished. The next goal has been set: Axel Springer aims to become global market leader in digital content and digital classifieds through accelerated growth. The company is headquartered in Berlin and employs more than 16,000 people worldwide.