Sanoma completes the divestment of movie operations
Stock Exchange Release 29/4/2011 13:30
Sanoma announced the divestment of its movie operations to the Swedish private equity company Ratos AB on 21 March 2011. Both the Finnish and Latvian competition authorities have given their approval of the transaction and the deal is now completed.
The enterprise value of the transaction is EUR 116.0 million. Sanoma will record a non-recurring capital gain of approximately EUR 50 million in its second quarter 2011 result.
Chief Financial Officer
Sanoma's Investor Relations, Kare Laukkanen tel. +358 105 19 5064 and Anna Tuominen tel. +358 105 19 5066 or email@example.com
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 nearly 20,000 people in over 20 countries throughout Europe. In 2010, the Group's net sales totalled EUR 2.8 billion.