Sanoma Magazines Finland, a company of Sanoma Magazines, one of SanomaWSOY's biggest divisions, has today entered into an agreement to sell its trade directory publisher Blue Book to the Danish publishing company TDC Forlag A/S. The value of the deal is EUR 11.8 million.
If the preconditions are fulfilled, the transaction will be finalized on 27 March, and the entire personnel of Blue Book will transfer to the buyers' service retaining their existing employment terms.
The transaction is consistent with the strategy, according to which SanomaWSOY will divest non-core operations and assets.
Blue Book is the leading Finnish producer of business contact and marketing information. Its best-known product Sininen Kirja (Blue Book), the leading business directory in Finland, was published for the first time already 73 years ago. Blue Book belongs to the Business Media unit of Sanoma Magazines Finland, and has 48 employees.
The buyer, TDC, formerly Tele Danmark, is a Danish-based European full-service provider of communications solutions. TDC's net sales totalled EUR 7.28 billion in 2001. The company is listed on the stock exchanges in Copenhagen and New York. TDC is determined to strengthen its position in the Nordic markets as publisher of directories. The company intends to achieve this goal also by acquisitions. Finland is an entirely new market for TDC.
Sanoma Magazines, the fifth largest magazine publisher in Europe, operates in ten European countries and publishes some 270 magazines. Sanoma Magazines Finland is the leading Finnish magazine publisher and the market leader in women's magazines, family magazines and juvenile publications.
Vice President, Investor Relations and Group Communications