Through this press release, Metro International S.A. hereby informs its shareholders of the conclusions of the second valuation report done by the independent expert Grant Thornton AB (“Grant Thornton”) for the shares concerned by the squeeze-out.

The valuation date retained by Grant Thornton, acting as second independent expert, is the publishing date of the first valuation report, i.e. 4 May 2015. The conclusions of the second valuation report (the “Second Valuation Report”) of Grant Thornton read as follows:

  • Based on the valuation analysis we have found the value to be SEK 0.73 for Class A shares and SEK 0.78 for Class B shares.
  • The offered price by Kinnevik of SEK 0.90 and SEK 0.94 imply premiums of 23% for the Class A share and 21% for the Class B share compared to our valuation analysis.
  • The implicit value from a comparable quoted companies valuation (outlined in Appendix G), based on a estimated EBIT-margin of 3.36% for FY16, resulted in a value of SEK 0.46 per Class A-share and SEK 0.50 per Class B-share.
  • Based on our valuation analysis and the offered price above we find that the Fair Price in accordance with the Mandatory Squeeze-out is 0.90 per Class A share and 0.94 for Class B share.

Additional information relating to the squeeze out process, including the full Second Valuation Report, is available on:

For further information, visit or contact:

Azhar Damad, Chief Financial Officer Mobile +46 (0)70 415 95 31


Metro is the largest international newspaper in the world. Metro is published in over 120 major cities in 22 countries across Europe, North & South America and Asia. Metro has a unique global reach – attracting a young, active, well-educated Metropolitan audience of almost 17.6 million daily readers.