Prisa sells Santillana to Sanoma for €465 million

Publicado em 22/10/2020

Spanish media and education conglomerate, Grupo Prisa, has agreed to sell the Santillana publishing division in Spain to Finnish company Sanoma for €465 million, but will continue to control the business in Latin America.

This agreed price will be paid in cash, after discounting the net debt of the business subject to the transaction, which amounts to €53 million.

Prisa's chief executive officer, Manuel Mirat, stated that "with the sale of Santillana España, Prisa's capacity to generate value in its business projects is demonstrated. Furthermore, with the choice of Sanoma, Santillana has made an outstanding contribution to forming one of the great European leaders in the Education sector".

A team from Uría Menéndez coordinated by partner Pablo González-Espejo and senior associate Livia Solans advised Prisa

Sanoma was advised by Cuatrecasas