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Ekspress Grupp sells its bookshop chain Rahva Raamat
Juhan Tere, BC, Tallinn, 10.02.2010.
Print version
Print versionEstonian publishing company Ekspress Grupp announced on Wednesday that it sold its bookshops chain Rahva Raamat to the chain’s management.
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On 9 February 2010, Eesti Ajalehed AS, a subsidiary of AS Ekspress Grupp, and OÜ Raamatumaja concluded an Agreement of Purchase and Sale of the shares of Rahva Raamat AS, Ekspress Grupp told the Tallinn bourse.
The sales price is EEK 33 million (EUR 2.1 million) and the deal is to be closed by 18 February 2010, informs LETA.
AS Ekspress Grupp's decision to divest Rahva Raamat AS follows the Group's strategy to focus more on its core activities in printed and digital media.
The new owner of the company is the management of Rahva Raamat AS.
Non-audited EBITDA of Rahva Raamat AS in 2009 was EEK 3.4 million (EUR 0.22 million).
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