Sanoma is selling its Hungarian media operations
Sanoma Corporation, Stock Exchange Release, 24 April 2014 at 15:30 CET+1
Sanoma is selling Sanoma Media Budapest, one of the leading magazine and online publishers in Hungary, to Centrál Group. This transaction marks the departure of Sanoma from the Hungarian market.
Sanoma and Centrál have signed a sale and purchase agreement on the sale of Sanoma Media Budapest Zrt group. The closing of the deal is subject to the approval of the competition authorities.
In 2013 the net sales for Sanoma’s Hungarian media operations totalled some EUR 60 million. Sanoma estimates that it will book at the closing a non-recurring capital gain of around EUR 11 million. The divestment is in line with Sanoma’s strategy to focus its operations and divest selected ownerships.
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