Sjællandske Medier has acquired three local free weekly titles (Freesheets) from Berlingske Media, the Danish subsidiary of Mecom Group for a cash price of DKK 37.5 million (€5.0 million), payable in full at completion.
The Freesheets comprise three weekly publications and two media houses, which together contributed €0.9 million to Mecom’s profit before tax in 2012, excluding central overhead allocations. The Sale will be a transfer of the trade and assets of these operations, and will result in the deconsolidation of approximately €2.6 million of assets from Mecom Group’s balance sheet.
Berlingske Media has also agreed to acquire the outstanding 25 per cent minority interest in a printing company subsidiary of Mecom, for DKK 6.5 million (€0.9 million).
The sale is expected to complete on 1st June 2013.
- Mecom Group plc – results for year ended 31st December 2012 Posted on March 21, 2013
- Mecom Group issues a pre-close trading update Posted on January 11, 2013
- Mecom to conduct a strategic review including, potentially, further disposals. Tom Toumaziz to step down as CEO Posted on July 19, 2012
- Mecom completes the sale of its media business in Norway to A-pressen AS Posted on June 28, 2012
- Mecom sells its media business in Norway to A-pressen AS Posted on December 6, 2011
- Mecom rejects approach by Dutch banks Posted on April 8, 2011
- David Montgomery forced out as chief executive of Mecom after pressure from shareholders Posted on September 10, 2010
- Mecom exceeds market expectations Posted on August 13, 2010