Stock Exchange Release 23/02/2012 09:30
Sanoma Corporation has signed an agreement with Finda Oy, Oulu ICT Oy, PHP Liiketoiminta Oyj and Osuuskunta KPY, major shareholders of the Finnish telecommunications group DNA Ltd, to sell its entire 21.11% shareholding in DNA Ltd for a EUR 181.5 million cash consideration to be paid at the closing of the transaction. As a result, Sanoma will book a non-recurring capital loss of some EUR 17 million at the closing of this transaction, which is expected during March 2012.
"This transaction is in line with our strategy to focus on consumer media and learning. It also strengthens our balance sheet and enables us to further develop our portfolio," says Harri-Pekka Kaukonen, President and CEO of Sanoma Corporation.
Sanoma Corporation
Kim Ignatius
Chief Financial Officer
Additional information: Kim Ignatius, CFO, tel. +358 105 19 5120 or ir@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 15,000 people in over 20 countries. In 2011, the Group's net sales totalled EUR 2.7 billion.
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Source: Sanoma Oyj via Thomson Reuters ONE