Sanoma sells its press distributions ops from Romania to Dan Vasile, CEO of Rautakirja and R-Kiosk Romania.
The commercial division of Finnish group Sanoma, Sanoma Trade, will sell its distribution ops in Romania and R-Kiosk kiosks in Romania to Dan Vasile, General Manager of Rautakirja Romania and R-Kiosk Romania.
Sanoma will see restructuring income of Euro 8M from this transaction, with effects on the financial results of the 2nd trimester.
Romanian kiosks network, R-Kiosk România, had, in 2010, net sales of Euro 5M. The company has 20 units mainly in Bucharest and Sibiu and a team of 120 employees. The press distribution ops generated in 2010 net sales of Euro 18M and 200 jobs.
R-Kiosk bases its activity on selling press and other products, such as drinks, cigarettes and food.
Rautakirja Romania, part of Sanoma group, has a 35% market share on local press distribution market