Today 4 June 1999, Sanoma Corporation's subsidiary Arnedo Oy has acquired 47,990 Ilkka-Yhtymä Oyj's shares of class I and 1,064,702 shares of class II, representing in aggregate 34.1 % of Ilkka-Yhtymä Oyj?s shares and 9.4 % of its votes. The purchase price was approximately FIM 150 per share of class I and about FIM 125 per share of class II.
Arnedo Oy's shareholders are Sanoma-WSOY Oyj's subsidiary Sanoma Corporation (60 %), Janton Oyj (20 %) and Pohjois-Karjalan Kirjapaino Oyj (20 %). Before the ownership change carried out today, the shares of Ilkka-Yhtymä Oyj were mainly held by Sanoma Corporation, Kymen Viestintä Oy, the principal shareholders of Janton Oyj, as well as by Pohjois-Karjalan Kirjapaino Oyj and its principal shareholder Reino Laakkonen and his family.
Arnedo Oy's Board Chairman, Sanoma Corporation's Executive Vice President Martti Ojares mentions that the objective of the deal is to increase and develop co-operation between the newspaper and magazine publishers operating in the central region of Finland. The long-term objective of the acquisition is to ensure the profitable operation of newspaper and magazine publishers in the region, increase their value and develop their autonomous local ownership base. For this reason, Sanoma Corporation will shortly offer a block of its holding representing 40 % of Arnedo Oy's share capital for purchase by Ilkka-Yhtymä Oyj and Keskisuomalainen Oy.
For further information:
Mr. Martti Ojares, Executive Vice President, Sanoma Corporation; tel. +358 9 122 4750 or +358 40 522 7988
President and CEO
HEX Helsinki Exchanges