Swedish private equity firm, Ratos, has acquired the movie operations of Finnish media group, Sanoma. The deal is valued at $172.4 million. The company is aiming to focus more into consumer media and learning materials and offload non-core assets, adds Reuters.
Sanoma will also sell its Finnish literature business to Swedish media group, Bonnier, while acquiring educational publishers, Tammi Learning and Bonnier Utbildning, from the same company. Through the deals, the company will record a non-recurring capital gain of nearly $74 million in its second quarter 2011.
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