Sorainen Estonia advised Sanoma Media Finland on divestment of its fully owned subsidiary Sanoma Baltics to a consortium of management team members and a private equity investor BaltCap.
Sanoma Baltics operates auto24.ee, the market leader in Estonian online car classifieds, and Kuldne Börs, an online generalist market place, among others. In 2016, the net sales of Sanoma Baltics totalled EUR 4.4 million.
The divestment marks Sanoma’s exit from the Estonian market. Sanoma Media Finland focuses on further developing its strong, multi-channel operations in Finland.
Sorainen team consisting of partner Pekka Puolakka and counsel Paul Künnap, assisted the seller in negotiations, preparing transaction documentation and closing the transaction.