Sanoma divests its Latvian kiosk and press distribution operations
(Thomson Reuters ONE) -
Press Release 14/10/2011 16:30
Sanoma Trade has today sold its ownership, 50% of the shares, in the Latvian
kiosk and press distribution company Narvesen Baltija SIA to the Norwegian
Reitan Group. The purchase price is some EUR 8 million. Sanoma will record a
non-recurring capital gain of approximately EUR 5 million in its fourth quarter
2011 result.
Narvesen Baltija has the market leading kiosk company in Latvia, with some 240
outlets operating under two brands, Preses Abvieniba and Narvesen. It also
includes the leading press distributor Preses Serviss. Narvesen Baltija has been
jointly owned by Sanoma Trade and Reitan since 1999. In 2010, the net sales of
the company were some EUR 59 million and Narvesen Baltija employed some 240
persons (FTEs).
The divestment is in line with Sanoma's strategy to focus its operations and to
concentrate on media and learning solutions. The divestment will not affect
Trade segment's or Sanoma Group's outlook for the 2011.
Sanoma Corporation
Kim Ignatius
Chief Financial Officer
Additional information: Sanoma's Investor Relations, Anna Tuominen tel.
+358 105 19 5066 or ir(at)sanoma.com
Sanoma.com
Sanoma inspires, informs and connects. As a diversified media group, we bring
information, experiences, education and entertainment to millions of people
every day. We make sure that quality content and interesting products and
services are easily available and meet the demands of our readers, viewers and
listeners. We offer a challenging and interesting working environment for nearly
20,000 people in over 20 countries throughout Europe. In 2010, the Group's net
sales totalled EUR 2.8 billion.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sanoma Oyj via Thomson Reuters ONE
[HUG#1555032]
Unternehmensinformation / Kurzprofil:
Datum: 14.10.2011 - 15:30 Uhr
Sprache: Deutsch
News-ID 76293
Anzahl Zeichen: 2466
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Sanoma divests its Latvian kiosk and press distribution operations"
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