The Finnish Competition Authority has approved the deal, whereby Sanoma, a division of SanomaWSOY Group, divested the operations of its newspaper delivery company Leijonajakelu Oy to Finland Post Corporation. SanomaWSOY published a release on 23 April 2003 when the deal was signed. The closing of the transaction will take place on 1 September 2003. The approval was subject to both parties fulfilling the conditions given by the FCA.
With the divestment, Sanoma aims to secure the quality of early morning delivery, which is an important strength of Finnish newspapers. Selling the delivery operations to the Finland's leading messaging and logistics company improves the possibility to develop the quality and efficiency of Leijonajakelu. Sanoma will continue close cooperation with Leijonajakelu. The divestment is in line with SanomaWSOY's strategy to divest its non-core assets.
SANOMAWSOY CORPORATION
Raija Kariola
Vice President
Investor Relations and Group Communications
DISTRIBUTION
Helsinki Exchanges
Principal media