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Onexim reportedly makes another advance to buy Sanoma assets in Russia.

MANews-(C)2009-2014

10 July 2014 - Russian mogul Mikhail Prokhorov's investment vehicle Onexim has again presented an offer to purchase local operations of Finnish media and publishing firm Sanoma Oyj (HEL:SAA1V), after prior negotiations collapsed due to difference on the price, news agency PRIME reported today, quoting two people in the know.

Sanoma is owner of Sanoma Independent Media in Russia, a publisher of Russian-language versions of papers and magazines such as Cosmopolitan, Esquire, Harper's Bazaar, Men's Health, Woman's Health, National Geographic, Grazia, and Vedomosti. The business daily is being published jointly with the FT and Dow Jones, PRIME notes.

According to an insider cited by PRIME, it is not clear if the plan involves amalgamating the assets with Onexim-controlled media holding RosBusinessConsulting (RBC) or running them as a separate firm.

Other tipped suitors for the particular assets include Vadim Goryainov, RBC chairman Derk Sauer and Hearst Shkulev Media co-owner Viktor Shkulev, PRIME said.

Country: Russia

Sector: Media

Target: Sanoma Independent Media

Buyer: Onexim , Mikhail Prokhorov , Viktor Shkulev, Derk Sauer, Vadim Goryainov

Vendor: Sanoma Oyj

Type: Corporate acquisition

Status: Bidding, Speculation

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Publication:M & A Navigator
Geographic Code:4EXRU
Date:Jul 10, 2014
Words:182
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