J-M Capital Limited advised Rautakirja to Sell its Multipurpose Arena in Hamburg
The gain on the sale of asset will amount to some EUR 2 million
Rautakirja, part of the SanomaWSOY Group, will sell D+J Arena Hamburg GmbH, the owner of the multipurpose arena in Hamburg to the American Anschutz Entertainment Group (AEG), one of the world’s leading providers of live entertainment, sport events and facilities. In 2006, net sales of D+J Arena Hamburg amounted to EUR 12.7 million. Currently the company employs 17 persons. The gain on the sale of asset will amount to some EUR 2 million. The deal is subject to the approval of the authorities of the city of Hamburg.
”The decision to sell our multipurpose arena in Hamburg is in line with Rautakirja’s long-term strategy to focus on the distribution and retail sales of press products as well as specialised retail trade. As one of the leading sports and entertainment presenters in the world, AEG is a perfect new home for this business,” says Erkki Järvinen, President and CEO of Rautakirja.