Sanoma Corporation, Stock Exchange Release,
30 December 2015 at 09:30 CET+1
Sanoma has today agreed to sell its 50% stake in Fashion Press to InVenture Partners, a group of Russia-based investors. Fashion Press publishes popular magazines such as Cosmopolitan and Esquire in Russia. Additionally, Sanoma has agreed to sell the remaining operations in United Press and its 50% stake in Mondadori Independent Media, the publisher of Grazia magazine, to them.
These transactions are a result of the strategic review announced by Sanoma in October 2013 to redesign its consumer media operations, which led to the previously announced divestment of its other Russian assets such as Vedomosti and several leading magazine titles.
The closing of the transactions is subject to governmental approvals and certain other conditions.
Sanoma’s Group Communications, Robin Janszen, tel. +31 6 2293 2634 or email@example.com
Sanoma's Investor Relations, Pekka Rouhiainen, tel. +358 40 739 5897
Get the world. Sanoma helps people access and understand the world.
We believe in a world full of opportunities, feelings, reactions and inspiration. A world that you can reach, influence, explore and share. We want to make it yours.
Sanoma is a front running consumer media and learning company in Europe. In Finland and The Netherlands we are the market leading media company with a broad presence across multiple platforms. Our main markets in learning are Belgium, Finland, the Netherlands, Poland and Sweden. In 2014, Sanoma’s net sales totalled EUR 1.9 billion. Sanoma is listed on the Nasdaq Helsinki stock exchange.