Former management acquires Diena and Dienas Bizness

The contract was signed earlier today in Riga. Catella Corporate Finance was the transaction advisor and the arranger of the funding. Former Bonnier newspaper executive John Hedberg has assisted and facilitated the transaction. 

 “Nedela came up with a good proposal which we have accepted. This enables us to further strengthen Bonnier Business Press in our prioritized markets which are Scandinavia, Russia, Estonia, Lithuania, Poland, Bulgaria and Slovenia,” says Casten Almqvist, CEO Bonnier Business Press.

 “We are very happy to have reached this agreement with Bonnier Business Press. We have signed a contract where we commit to continue the tradition of independent journalism and freedom of speech which has been the trademark of both Diena and Dienas Bizness,” says Aleksandrs Tralmaks.

“The buyers know the companies very well. Aleksandrs Tralmaks was previously CEO for the newspaper Diena. Furthermore, one of the proposed new board members, Mr. John Hedberg has a background as part of the top management team at Bonnier Newspapers,” says Casten Almqvist.

 "Nedela invests with the intent to develop the business further", says Aleksandrs Tralmaks. "In the short term, no major changes are to be expected as the former owners have already taken significant action to adjust the organizations to the prevailing economical environment. Over time, we will focus on accelerated development of the online capabilities of the two titles."