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Sorainen Advises Sanoma on Sale of Apollo to Eesti Meedia

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Sorainen announced that it has advised Sanoma, a European consumer media and learning company, on the divestment of its Apollo online news service in Latvia.

The firm described the divestment as being "in line with Sanoma’s strategy of focusing its operations and divesting selected ownerships." Apollo was acquired by Eesti Meedia, a leading media group in the Baltics.

Net sales for Apollo totaled around EUR 800 thousand in 2013. As part of the transaction, Apollo’s employees will transfer to the new owner. 

Sanoma employs over 10,000 professional employees in Europe, with key markets in Finland, The Netherlands, Belgium, and throughout Central & Eastern Europe. 

Sorainen's support included assisting in drafting and negotiating the transaction documents.

 

 

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