Sanoma sells kiosk operations in Finland, Lithuania and Estonia, and press distribution in Estonia and Lithuania

SORAINEN advised Sanoma Corporation on Estonian and Lithuanian law aspects in divestment of its kiosk operations in Finland, Lithuania and Estonia plus Sanoma press distribution operations in Estonia and Lithuania. The assets were bought by Reitan Servicehandel for an enterprise value of EUR 130.7 million, including the Rautakirja trade mark. The transaction is subject to EU merger control filing and approval is expected within two months from filing.

SORAINEN assistance included pre-transaction corporate structuring, setup of information for due diligence, and transactional advice. The team was led by partner Kęstutis Adamonis with support from partner Toomas Prangli, specialist counsel Kadri Kallas and associate Gytis Malinauskas.

→ See related press release on Sanoma's web page.

Back