Alma Media sells Talentum Oyj shares to subsidiary
ALMA MEDIA CORP. STOCK EXCH. RELEASE 17.12.2003, at 10.O5 a.m. ALMA MEDIA SELLS TALENTUM OYJ SHARES TO SUBSIDIARY Alma Media today sold its 6 600 000 shares in Talentum Oyj for EUR 33 million to its wholly owned subsidiary Kustannusosakeyhtiö Kauppalehti. The loss on this sale will reduce Alma Medias consolidated operating profit this year by approximately MEUR 16. Alma Media Corporation has today sold its entire holding in Talentum Oyj, 6 600 000 shares, on the Helsinki Exchanges to its wholly owned subsidiary Kustannusosakeyhtiö Kauppalehti, part of Alma Medias Business Information Group. These shares represent 32.8 % of Talentum Oyjs share capital. Alma Media has owned these shares since 2001, when it paid EUR 60 million for the holding at the current share price at the time. -The sales of the shares to Alma Medias Business Information Group clarifies the situation, states Alma Media Corporations CEO Juho Lipsanen. Business Information Group and Talentum operate in the same business and the figures reported by BIG have also included Alma Medias share of Talentum Oyjs profits and amortization of goodwill on consolidation of this holding, he continues. Lipsanen also points out that the transaction has no negative impact on operational cash flow. Transaction of course cuts current years net profit, but Alma Media Groups net profit will be positive in every case also after the deal. ALMA MEDIA CORPORATION Ahti Martikainen Corporate Communications and Investor Relations Further information: Mr Juho Lipsanen, CEO, + 358 9 507 8715 Mr Teemu Kangas-Kärki, CFO, +358 9 507 8703 Mr Ahti Martikainen, VP, Communications and IR, +358 9 507 8514 Distribtion: Helsinki Stock Exchange, Principal media
- Date: 17.12.2003, 10:05
- News type: Stock exchange release
Release subscription form
NOTE. If you fill in your phone number, you will automatically receive the subtitles of the releases also as SMS. If you do not wish to receive SMS's from Alma Media, simply leave the phone number field empty.