Finnish Consumer and Competition Authority approves Sanoma’s acquisition of Alma Media’s regional news media business
Alma Media Corporation Stock Exchange Release 19 March 2020 at 3.30 p.m. (EET)
FINNISH CONSUMER AND COMPETITION AUTHORITY APPROVES SANOMA’S ACQUISITION OF ALMA MEDIA’S REGIONAL NEWS MEDIA BUSINESS
After its assessment, The Finnish Competition and Consumer Authority has today on 19 March 2020 given its approval for Sanoma to acquire regional news media business and printing operations from Alma Media. Conditions for the completion of the transaction have been thus fulfilled and Alma Media expects the closing of the transaction to take place at the end April 2020.
Alma Media announced on 11 March 2020 its intention to sell regional news media business and printing operations to Sanoma Media Finland and noted that the transaction was subject to approval by the Finnish Competition and Consumer Authority and the fulfilment of the other terms and conditions of the transaction.
For more information, please contact:
Mikko Korttila, General Counsel, Alma Media Corporation, tel. +358 10 665 2201
Alma Media in brief
Alma Media is a dynamic digital service business and media company with a strong capacity for renewal. The company’s best-known brands are Kauppalehti, Talouselämä, Iltalehti, Aamulehti, Etuovi.com and Monster. Alma Media builds sustainable growth expanding its offering from media to related digital services fulfilling the needs of users’ everyday life as consumers and as professionals in business. Alma Media operates in 11 countries in Europe. Alma Media employs approximately 1,800 professionals. Alma Media’s revenue from continuing operations was EUR 250.2 million in 2019. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com