Hakon Invest's Forma to sell Finnish magazine business to A-lehdet.
16 April 2012 - Swedish private equity firm Hakon Invest AB (STO:HAKN) on Monday said its unit Forma Publishing Group would dispose of its Finnish-based magazine subsidiary Forma Publishing Group Oy to domestic publisher A-lehdet Oy, without revealing the value of the deal.
Under the agreement signed today, Forma Publishing Group is selling its magazine operations in Finland and Estonia, which generated combined sales of around SEK120m (USD18m/EUR14m) last year.
The divestment is part of Hakon Investa[euro](tm)s review started in late autumn last year of its 100%-ownership in the Forma Publishing Group unit, the buyout company said.
The vendor views A-lehdet, publishing several well-known consumer magazine titles in Finland, as a good choice for Forma's Finnish magazine operations, as it could provide the business with a platform for future growth, Stein Petter Ski, senior vice president of Investments and Portfolio Companies, said.
The ongoing review of Formaa[euro](tm)s other businesses is getting considerable interest, but an outcome is still too early to predict, the executive said.
Hakon Invest, which has owned Forma Publishing Group since 2000, expects to complete the evaluation of its ownership in the unit before summer this year, it said.
Forma Publishing Group comprises Forma Magazines, Forma Books and Forma Contract and had sales of SEK847m in 2011.Country: Estonia, FinlandSector: MediaTarget: Forma Publishing Group OyBuyer: A-lehdet OyVendor: Hakon Invest AB , Forma Publishing Group Type: DivestmentStatus: Agreed
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|Publication:||M & A Navigator|
|Date:||Apr 16, 2012|
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