Alma Media sells its minority stake in Bolt Group Ltd

Alma Media Plc Press Release 21 February 2022 

ALMA MEDIA SELLS ITS MINORITY STAKE IN BOLT GROUP LTD 

Alma Career Ltd, a subsidiary of Alma Media Plc, has agreed on 18 February 2022 to sell all of its share capital, representing 21.05% of the total share capital of Bolt Group Ltd., to a newly formed company consisting of domestic private equity firm Vaaka Partners as well as the operative management and staff of the Bolt Group Ltd from their current owners. Alma Career acquired a stake in the company in December 2020.  

Bolt Group is a Finnish staffing platform specialising in construction labour hire. In addition, it operates as an agent to companies that work in industries such as industry, logistics and real estate servicing and provides them with appropriate workforce. In fiscal year 2020, Bolt Group made a profit of EURM 0.1 on sales of EURM 39.6.  

The share transaction will bring an estimated gain on sale of EURM 5.5 for Alma Media Plc, which will be treated as a profit and adjusted item after the deal is finalised. The transaction is subject to approval by the Finnish Competition and Consumer Authority. 

For more information, please contact:  
Vesa-Pekka Kirsi, Senior Vice President, Alma Career tel. 010 665 2587

Alma Media in brief

Alma Media is a digital service business and media company with a strong capacity for renewal. We are building sustainable growth from media to services, providing content and services that benefit users in their everyday lives, work and leisure time. In Finland, our best-known brands include Kauppalehti, Talouselämä, Iltalehti, Etuovi.com, Nettiauto and Nettimoto. Our recruitment services include prace.cz and jobs.cz in the Czech Republic, Profesia.sk in Slovakia and mojposao.net in Croatia.

In Finland, our business operations include leading housing and automotive marketplaces, financial and professional media, national consumer media and content and data services for professionals and businesses. Alma Media’s international business in Eastern Central Europe, Sweden and the Baltic countries consists of recruitment services, an online marketplace for commercial properties and direct marketing services.

Alma Media operates in 11 countries in Europe and employs approximately 1,500 professionals. Alma Media’s revenue from continuing operations was EUR 275.4 million in 2021. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com.

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