Investments, Latvia, Legislation, Markets and Companies

Both companies were purchased by SM Investicjas Ltd., which is owned by Marsans and Svarpstons. The deal was concluded on November 17, however, the purchase sum has not been revealed.

The Dienas Bizness and Dienas Zurnali magazines and newspapers will continue to be published, but now under the management of SM Investicjas Ltd..

As reported, joint-stock Diena announced earlier this week that it has sold its companies – Dienas mediji, Izdevnieciba Dienas zurnali, Izdevnieciba Dienas bizness and RPD Ltd..

The owner of the newspaper and publishing company, Rigas Tirdzniecibas osta, informed that the company does not see publishing in its strategic activities anymore, thus the decision has been made to divide the concern and sell its companies.

An agreement in principle has been made with the potential new owners of the company, and the deal is near complete. More detailed information will be made available in the near future.

LETA also reported, the joint-stock media group Diena posted EUR 8.251 million in profit last year, compared to losses of EUR 5.046 million in 2013.

Diena is one of the largest media corporations in the Baltic countries that publishes newspapers, magazines and books.