Sanoma Corporation, Press Release, 15 March 2017 at 13:00 CET+1
Sanoma Media Finland is divesting its fully owned subsidiary Sanoma Baltics AS, to a consortium of management team members and a private equity investor BaltCap.
Sanoma Baltics operates auto24.ee, the market leader in Estonian online car classifieds, and Kuldne Börs, an online generalist market place, among others. In 2016, the net sales of Sanoma Baltics totalled EUR 4.4 million. The company employs around 20 FTEs.
As a result of the transaction, Sanoma will recognize a sales gain of around EUR 10 million. Closing of the transaction is subject to the approval of local competition authorities.
The divestment marks Sanoma’s exit from the Estonian market. Sanoma Media Finland focuses on further developing its strong, multi-channel operations in Finland.
Sanoma Media Finland’s Communications, Hanna Johde, tel. +358 40 673 8977
Sanoma is a front running media and learning company impacting the lives of millions every day. We provide consumers with engaging content, offer unique marketing solutions to business partners and enable teachers to excel at developing the talents of every child.
With companies operating in Finland, the Netherlands, Belgium, Poland and Sweden, our net sales totalled EUR 1.6 billion and we employed more than 5,000 professionals in 2016. The Sanoma shares are listed on Nasdaq Helsinki.