With the transaction carried out today, Otava Ltd has significantly increased its shareholding in Alma Media Corporation. As a result of the deal, Otava became the largest shareholder in Alma Media with a 29% holding. The seller was Ilkka-Yhtymä Oyj, which retains a holding of about 10.9% in Alma Media.
“Thanks to this deal, Alma Media is now a strategic minority investment for Otava. The company holds a strong position in the Finnish media field and has found new earnings models as the print business has declined. Alma Media has also achieved an attractive position in the marketplace business in Finland and recruiting services internationally.
This deal is a major investment for Otava. We believe in Alma Media’s competitiveness and potential for development,” says Henrik Ehrnrooth, Chair of the Board of Directors of Otava Ltd.
The transaction has no impact on the business operations of either Otava or Alma Media.
For further information, contact:
Otava Ltd CEO Alexander Lindholm, tel. +358 (0)40-8330126