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 Media’s 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 Media’s Business Information Group. These shares represent 32.8 % of Talentum Oyj’s 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 Media’s Business Information Group clarifies the situation, states Alma Media Corporation’s CEO Juho Lipsanen. Business Information Group and Talentum operate in the same business and the figures reported by BIG have also included Alma Media’s share of Talentum Oyj’s 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 year’s net profit, but Alma Media Group’s 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

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