Sanoma completes the divestment of its kiosk operations in Finland, Lithuania and Estonia as well as press distribution operations in Estonia and Lithuania
Stock Exchange Release 4/5/2012 12:50
The divestment of Sanoma's kiosk operations in Finland, Lithuania and Estonia as well as press distribution operations in Estonia and Lithuania, announced on 5 March 2012, has been closed today. In the transaction Sanoma sold its ownership in these operations, including the Rautakirja trade mark, for and enterprise value of EUR 130.7 million. As a result of the transaction, Sanoma will recognise in the second quarter of 2012 a non-taxable non-recurring capital gain of some EUR 80 million.
Chief Financial Officer
Additional information: Sanoma's Investor Relations, Martti Yrjö-Koskinen, tel. +358 105 19 5064 or firstname.lastname@example.org
Sanoma inspires, informs and connects. As a diversified media group, we bring information, experiences, education and entertainment to millions of people every day. We make sure that quality content and interesting products and services are easily available and meet the demands of our readers, viewers and listeners. We offer a challenging and interesting working environment for around 11,000 people in over 20 countries throughout Europe. In 2011, the Group's restated net sales totalled EUR 2.4 billion.