SanomaWSOY's Malmberg deal approved by competition authorities

SanomaWSOY's Malmberg deal approved by competition authorities

SanomaWSOY Group's division WSOY has received the needed approvals from competition authorities for Malmberg acquisition. The deal is estimated to be closed during the first part of November.

SanomaWSOY agreed on the acquisition of the Dutch-based educational publisher Malmberg Investments B.V. on 15 July 2004. The enterprise value is EUR 221.9 million.

Malmberg Investments B.V. comprises two main operating companies, LCG Malmberg B.V. (the Netherlands) and Van In (Belgium). The company is one of the leading educational publishers in both the Netherlands and Belgium with net sales of EUR 85.7 million, EBITA of EUR 23.6 million and 340 employees in 2003.

The acquisition was subject to the approval of both the Dutch and Belgian competition authorities. According to the normal practice, the deal was also dependent on the approval of Malmberg's works council. Dutch and Belgian competition authorities and Malmberg's works council have now all approved the acquisition.