Alma Media Corporation Insider information 30 December 2020 at 2.15 pm
ALMA MEDIA ACQUIRES REMAINING SHARES IN ALMA MEDIAPARTNERS OY
Alma Media Corporation is acquiring Arena Partners Oy’s 35 per cent minority shareholding in Alma Mediapartners Oy. The price of the share transaction is EUR 53.0 million. With the transaction, Alma Mediapartners will be fully owned by Alma Media.
At the same time, Alma Media will sell its 35 per cent shareholding in Arena Interactive Oy to Arena Partners Oy for a price of EUR 0.4 million. Arena Interactive is a subsidiary of Arena Partners.
The owners of Arena Partners Oy are Keskisuomalainen Oyj (41.21%), Ilkka-Yhtymä Oyj (41.17%), KPK Yhtiöt Oyj (8.81%) and PunaMusta Media Oyj (8.81%).
Simplifying the ownership structure will support the development of Alma Media’s marketplace business related to housing and cars in line with the strategy.
Among Alma Mediapartners’ brands are Finland’s largest housing search engine Etuovi.com, Vuokraovi.com, which focuses on rental homes, and the nationwide online car dealership service Autotalli.com. Alma Mediapartners’ business operations have also expanded to other housing, cars and mobility services, such as real estate and car sales systems and competitive tendering services.
Alma Mediapartners’ revenue in 2019 was EUR 25.2 million, EBITDA of EUR 10.4 million and operating profit of EUR 9.1 million (as part of Alma Media group in accordance with the IFRS principle).
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.
Juha Nuutinen, CFO, Alma Media Corporation, 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 250.2 million in 2019. Alma Media’s share is listed on NASDAQ Helsinki. Read more at www.almamedia.com