SanomaWSOY's Rautakirja division to acquire press distribution company in Romania

Nordic Business Report, July 1, 2004

NORDIC BUSINESS REPORT-1 July 2004-SanomaWSOY's Rautakirja division to acquire press distribution company in Romania(C)1994-2004 M2 COMMUNICATIONS LTD http://www.m2.com

Finish media group SanomaWSOY Corporation said on Friday (2 July) that its Rautakirja division had signed a preliminary agreement to purchase 51% of the Romanian press distribution company Hiparion Distribution.

Rautakirja would purchase the shares from local publishers and from the company's principal owner Catalin Berari, whose holding after the transaction would be 48% while a publishers' association would retain a 1% share in the company.

Hiparion Distribution currently holds close to a 30% share of the Romanian press distribution market, and its net sales in 2004 were anticipated to reach some EUR12m.

The deal would become effective in the autumn, SanomaWSOY said.

The transaction price was not disclosed.

One euro (EUR) is worth approximately 0.7 British pounds (GBP).

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