Arnedo Oy, a 60%-owned subsidiary of SanomaWSOY Group's division Sanoma Corporation, sold its shareholding in Ilkka-Yhtymä Oyj on 12 November 2004. The selling price of the shares was some EUR 18.5 million and the gain on the sale of assets some EUR 5.6 million.
The divestment will have a significant impact on Sanoma's result in 2004. After the transaction, SanomaWSOY has no holding in Ilkka-Yhtymä.
The divestment is in line with SanomaWSOY's strategy to divest its non-core assets and holdings. SanomaWSOY disclosed divestments of Ilkka-Yhtymä's shares also in June 2002 and October 2003.
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