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
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
Corporate Communications and Investor Relations
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