Posti Palvelut completed the acquisition of the newspaper distribution business of Keskisuomalainen for $23m.

Posti Palvelut, a provider of postal services in Finland, completed the acquisition of the newspaper distribution business of Keskisuomalainen, a firm engaged in publishing print and online newspapers and magazines in Finland, for $23m. “With the distribution and cooperation agreement signed with Posti, we will ensure the efficient and cost-effective early distribution of Keskisuomalainen Group's newspapers well into the future. The purpose of the agreement is to deepen and expand co-operation and to develop a confidential relationship with Posti. We record a significant capital gain from the business acquisition, which enables the company to maintain its shareholder value and develop the Group's business. The overall arrangement will also ensure the continuity of the work of the personnel transferred in the business acquisition," Vesa-Pekka Kangaskorpi, Keskisuomalainen President and CEO.