Avance advises leading multi-channel media company Alma Media in the sale of its regional news media business and printing operations to Sanoma Media Finland. The divested business includes regional newspapers Aamulehti and Satakunnan Kansa, 13 local newspapers as well as Alma’s news printing facilities located in Tampere.

The transaction is one of the largest ever in the Finnish media sector with an enterprise value of EUR 115 million. The transaction increases further Alma Media’s focus on digital services and supports its strategic ambitions to build sustainable competitive positions and achieving its long-term growth targets.