UK newspaper group Mecom in talks to sell European opearations

Newspapers

UK publisher Mecom Group Plc (LON:MEC) said today that a number of parties had expressed interest in taking over its Dutch, Polish and Danish operations.

The company, which released a trading update today showing a 9% annual fall in 2012 revenues, plans to dispose of certain businesses as part of a strategic review announced in July last year.

It said that it was currently in exclusive talks with one party concerning the sale of its business in Poland. In addition, it is considering a number of indicative offers for specific parts of its operations in the Netherlands, including some of its digital operations. However, it has received no acceptable offers for its whole Dutch business, Mecom said.

With regard to its operations in Denmark, it said it had got expressions of interest and that it would invite a small number of potential buyers to carry out due diligence shortly.

Mecom added that it was discussing an extension of the term of its current bank facilities by one year to 31 October 2014. Its net debt stood at EUR130m (USD172.5m) at the end of 2012.

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