Sanoma sells Hungarian media operations
Sanoma has announced it is selling Sanoma Media Budapest to Centrál Group. This transaction marks the departure of Sanoma from the Hungarian market. The closing of the deal is subject to the approval of the competition authorities.
In 2013, net sales for Sanoma’s Hungarian media operations totalled €60m. Sanoma says it estimates that it will book at the closing a non-recurring capital gain of around €11m. The divestment is in line with Sanoma’s strategy to focus its operations and divest selected ownerships.