February 11, 2020 / 7:03 AM / 17 days ago

Sanoma buys 15 Finnish papers, printer for $125 mln

Feb 11 (Reuters) - Finnish media group Sanoma Oyj said on Tuesday it has agreed to buy Alma Media’s regional news media business in a deal valued at 115 million euros ($125 million).

The acquired businesses include the daily Aamulehti, 14 regional newspapers, and a printing house in Tampere.

Sanoma said the deal value includes 42 million euros of net debt and advances received at end of 2019.

Alma Media said in a separate statement it would book a capital gain of 58 million euros when the deal is closed, which is seen happening by late-2020.

The units had preliminary, unaudited revenues of 99 million euros in 2019, and a pro forma adjusted operating profit of 10 million, Alma said.

$1 = 0.9167 euros Reporting by Tarmo Virki; editing by Uttaresh.V

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