WSOY, a division of SanomaWSOY, has received the required approval of the Hungarian competition authorities for its Láng acquisition.
WSOY acquired a majority in the leading Hungarian educational group Láng Kiadó és Holding Zrt (Láng) on March 14, 2006. The deal has been completed on June 13, 2006.
Láng consists of two companies: 70.35% of Nemzeti Tankönyvkiadó Rt. (NTK), the leading educational publisher in Hungary, and 100% of Perfekt Zrt., one of the leading vocational training companies in Hungary. Láng had pro forma consolidated net sales of EUR 27.5 million in 2005 and it employs some 300 persons.
Láng will be part of WSOY's educational publishing business, SanomaWSOY Education. Its figures will be consolidated to WSOY and SanomaWSOY as of 13 June, 2006.
WSOY is the educational material and book publishing division of the SanomaWSOY Group.