Estonia, Investments, Legislation, Markets and Companies, Mergers and take-overs

International Internet Magazine. Baltic States news & analytics Friday, 04.07.2025, 08:45

Margus Linnamäe's company becomes sole owner of BNS in Estonia

BC, Tallinn, 02.06.2014.Print version
While Estonian pharmaceuticals businessman Margus Linnamäe acquired via his MM Grupp's subsidiary UP Invest a 55% stake in BNS-owner Uudisvoog OÜ at the beginning of May, last Friday he bought also the remaining 45% stake in the news agency, thus becoming the sole owner of it, LETA/Public Broadcasting reports.

BNS's manager and UP Invest board member Sven Nuutmann told Public Broadcasting news portal that initially there were no plans of acquiring the full holding but one thing led to another. "At the moment it seemed most reasonable for us in this form. Initially there were several different plans."

 

Nuutmann said that the strategy of the company hasn’t changed. "Initially we work purely on strengthening the content of the news agency and developing technology, as far as monitoring services are concerned. We seek growth in both sectors," he said.

 

Linnamäe is since last autumn the owner of a half of Eesti Meedia, which publishes Estonian Postimees daily.

 

Linnamäe is an active investor in many spheres but till then was best known for his holding in pharmaceuticals business via the Magnum concern.

 

Uudisvoog OÜ, a company owned by director general of radio group Sky Media Ilmar Kompus, bought BNS in March from Finnish media company Alma Media.





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