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Sanoma Corporation, Stock Exchange Release, 17 April 2019 at 9:15 EET
The Dutch ACM takes further assessment related to Sanoma's intention to acquire Iddink
On 11 December 2018, Sanoma announced its intention to acquire Iddink Group (Iddink), a leading Dutch educational platform and service provider, making a clear next step in growing the Learning business within Sanoma. Iddink has strong, long-term relationships with its customers and a solid track record, and provides Sanoma with a platform for future growth in the Netherlands, Belgium and Spain. Iddink's business is complementary to Sanoma's current learning business in the Netherlands. Iddink will, post the intended acquisition, remain a separate operational company within Sanoma Learning SBU continuing to serve all educational publishers and content providers in its markets on fair and attractive terms.
After its first assessment, the Dutch Authority for Consumers and Markets (ACM) has announced that, as part of its standard procedure, a further assessment is necessary in order to reach a final decision with regard to the effects of the planned acquisition of Iddink by Sanoma. Sanoma is committed to continuing the acquisition of Iddink and will make the required additional notification to the ACM. The further assessment by the ACM can take a maximum of 13 weeks, which can be extended in case the ACM requires further clarifications.
Sanoma expects the acquisition to be completed by the end of Q3 2019 compared to Q2-Q3 2019 indicated at the time of signing.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.
With operations in Finland, the Netherlands, Poland, Belgium and Sweden, our net sales totalled EUR 1.3 billion and we employed more than 4,400 professionals in 2018. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com .