TALENTUM'S SALE OF MAJORITY OF TV CONTENT PRODUCTION CONFIRMED
STOCK EXCHANGE RELEASE FEBRUARY 20, 2008 AT 11.55 am
On January 22, 2008 Talentum Oyj announced that it had agreed on the
sale of Varesvuo Partners Oy, which focuses on TV content production.
The purchaser is a company established by CapMan Buyout VIII, which
is managed by CapMan Plc. The transaction does not include Talentum's
59% stake in the parent company of the sub-group Oy Filmiteollisuus
Fine Ab. This will be transferred to Talentum Oyj in the form of a
subsidiary. Finalization of the transaction required approval from
the competition authorities and some other preconditions.
The Finnish Competition Authority has given a favourable decision in
the matter and the other preconditions in the transaction have also
been met. The transaction came into force on February 20, 2008. The
figures of the business being sold will not be included in Talentum's
consolidated figures from January 1, 2008.
The debt-free price of the transaction is EUR 11.0 million. The net
cash flow from the transaction is expected to about EUR 9.4 million,
and the sale will create a profit on the sale of about EUR 1.0
million in the first quarter of 2008.
Further information:
Lasse Rosengren, General Counsel, telephone + 358 40 342 4204
Olli Liitola, Senior Partner, CapMan Buyout, telephone + 358 207 207
506 or 400 605 040
