BA Capital Management Europe II LLC (BACME) has announced that the pre-conditions related to the due diligence process of the Janton deal have been fulfilled. According to the conditional sale and purchase agreement, Sanoma Corporation, a division of SanomaWSOY Group, will sell its 21.37% holding in Janton Oyj to BACME or to its transferee.
The deal is still subject to the approval of the competition authorities among others, and to conditions not changing materially before the completion of the deal. BACME and the sellers shall complete the sale and purchase under the agreement within ten Finnish banking days of the date when BACME receives the approval of the competition authorities.
The divestment is in line with SanomaWSOY's strategy to divest its non-core assets and holdings. SanomaWSOY published a Stock Exchange Announcement on the agreement on 12 August 2003.
Investor Relations and Group Communications