Baltic private equity and venture capital investor BaltCap, together with its leadership, will acquire 100 percent of shares in Sanoma Baltics AS, operator of online portals auto24.ee and kuldnebors.ee.
The portals are being sold by Sanoma Media Finland OY and purchased more specifically by BaltCap Private Equity Fund II and its leadership, with the acquisition being financed partially by LHV pension funds, reported daily Postimees (link in Estonian).
Commenting on the acquisition, BaltCap partner Oliver Kullman said that the business being purchased has been well-run and that its team has great experience in operating online portals as well as good ideas regarding how to continue developing their services.
Also part of BaltCap's porfolio, for example, is FCR Media, which is involved in online advertising and has already expanded to 12 countries.
The acquisition is scheduled to be completed during spring 2017, following authorization from the Competition Authority.
Editor: Aili Vahtla