Alma Media acquires remaining shares in Alma Career Oy

Alma Media Corporation                                                                               31 March 2021

ALMA MEDIA ACQUIRES REMAINING SHARES IN ALMA CAREER OY

Alma Media Corporation is acquiring Monster Worldwide Scandinavia AB’s 16.66 per cent minority shareholding in Alma Career. The purchase price is EUR 58.5 million. The purchase price of the minority shareholding to be acquired is based on Alma Career Group’s debt-free enterprise value of the entire share capital, EUR 300 million. With this transaction, Alma Career Oy will be fully owned by Alma Media.

Simplifying the ownership structure will clarify and support the development of Alma Career’s recruitment business in accordance with Alma Media’s strategy.

Alma Career Oy was established in 2013 when Alma Media Corporation and Monster Worldwide Inc. agreed to strengthen their cooperation to cover Eastern Central Europe and the Baltic countries. Alma Career Oy has operated as the parent company of the Alma Career Group, which includes recruitment companies in ten European countries. Its recruitment services include the leading recruitment companies operating in Eastern Central Europe, such as LMC in the Czech Republic, Profesia in Slovakia, MojPosao in Croatia, CV Online in the Baltic countries and Kolektiv in Bosnia and Herzegovina.

Alma Career Group’s revenue in 2020 was EUR 62.7 million, EBITDA EUR 23.9 million and operating profit EUR 20.6 million.

The redemption of the minority interest affects Alma Media Group’s balance sheet position by the redemption price of the minority interest being deducted directly from the group’s equity.

The Monster branded job boards in Finland (Monster.fi) and Czech Republic (Monster.cz) will continue to operate as Monster. The change does not affect customer relations and will not require any actions from Monster’s customers in Finland or Czech Republic.

For more information, please contact:
Alma Media’s CFO Juha Nuutinen, tel. +358 10 665 3873

Alma Media in brief

Alma Media is a dynamic digital service business and media company with a strong capacity for renewal. The company’s best-known brands are Kauppalehti, Talouselämä, Iltalehti, Etuovi.com and Monster. Alma Media builds sustainable growth expanding its offering from media to related digital services fulfilling the needs of users’ everyday life as consumers and as professionals in business. Alma Media operates in 11 countries in Europe. Alma Media employs approximately 1,500 professionals. Alma Media’s revenue from continuing operations was EUR 230.2 million in 2020. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com 

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