Penguin Random House to acquire trade publishing business Santillana de Ediciones Generales from Spanish firm Promotora de Informaciones; €72M deal delivers brands in 22 countries, expanding presence for Penguin Random House in Spain, Latin America
March 20, 2014
– Spanish media group media group Promotora de Informaciones SA (BME:PRS), or Prisa, said it would sell its trade publishing business to global trade book publisher Penguin Random House in a deal worth EUR72m (USD99.3m).
Prisa said its susbsidiary Santillana de Ediciones Generales SL sealed the deal with Penguin Random House Grupo Editorial SA.
Under the transaction, Santillana is selling Alfaguara and other literary brands in the 22 countries where it operates, with the publications catering to the education sector not included, Prisa explained.
After this disposal, Santillana plans to concentrate on and invest in its educational division which makes up for over 87% of its revenues.
Penguin Random House will substantially boost its presence in Spain and Latin America with this deal, gaining a fully-owned publishing presence in Brazil, the largest market in South America, it said separately.
Completion is subject to reviews and approvals, Prisa said, adding that the price could be adjusted.
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