Aatos Erkko and Patricia Seppälä's estate reduce their holding in SanomaWSOY
Aatos Erkko and Patricia Seppälä's estate (Robin Langenskiöld and Rafaela Seppälä) have today sold 10 million Series B shares of SanomaWSOY representing 6.5% of the outstanding share capital of the company.
Of the 10 million shares sold, 6 million were sold by Aatos Erkko and 4 million by Patricia Seppälä's estate. The representative ownership of the selling shareholders following the sale is: Aatos Erkko 24.1% of share capital and 26.9% of votes and Patricia Seppälä?s estate 5.7% of share capital and 8.9% of votes.
The sale was executed by way of a book-built offering in which Goldman Sachs International acted as Bookrunner and Enskilda Securities as joint Lead Manager. The shares were placed with institutions across Europe. Each of the selling shareholders have undertaken to Goldman Sachs not to sell any further shares within the next six (6) months without the consent of Goldman Sachs.
- We welcome the share sale by our principal shareholders, Jaakko Rauramo, Chairman on SanomaWSOY comments. - The sale will broaden our international investor base and increase liquidity of our shares. We are pleased to witness the broad interest of both international and domestic shareholders in the share sale.
- The sale of the shares by our principal shareholders is a natural step in the growth and internationalization of SanomaWSOY. Each of the selling shareholders will retail a significant stake in the company following the sale and remains highly committed long term owners of the company, which is very important for SanomaWSOY. The sale will also allow our principal shareholders to diversify their investments, Rauramo continues.