Sanoma Completes Exit from Russia
Sanoma Corporation, Stock Exchange Release, 11 March 2016 at 15:00 CET+1
Sanoma has today closed the transaction related to the company’s remaining Russian assets. As announced on 30 December 2015, the transaction included Sanoma’s 50 % stake in Fashion Press, the remaining operations in United Press and the 50 % stake in Mondadori Independent Media.
The transaction is a part of Sanoma’s strategic plan announced in 2013 to redesign its consumer media operations and completes Sanoma’s exit from the Russian media market.
Sanoma is an inspiring, relevant and trusted consumer media and learning company. Ever since its formation in 1889, the company has held creativity and independent thinking at its core in order to deliver high-quality content in new and different ways.
Sanoma’s consumer media business provides consumers with engaging and personalised content through cross-media brands that touch their lives. Sanoma’s close relationships with its consumers enable the company to offer unique value-added marketing solutions to its business partners.
Sanoma Learning’s learning solutions enable teachers to excel at developing the talents of every child, creating opportunities for children to advance their prospects in life.
With operating companies in Finland, the Netherlands, Belgium, Poland and Sweden, Sanoma realised net sales of more than EUR 1.7 billion in 2015. The company employed over 6,000 employees.