Reed Smith Advised Business Post Group on Strategic Minority Stake Sale to Bonnier News
Global law firm Reed Smith has advised digital services company Business Post Group on its strategic minority stake sale to Bonnier News, the Swedish media group.
Business Post Group CEO Enda O'Coineen will remain the significant shareholder of the company and the day-to-day management of the company will not change. Bonnier News will take two seats on Business Post’s board.
O’Coineen acquired the Business Post in 2018. Following a number of acquisitions in recent years, the business now revolves around events, publishing, market research, data, software and services.
Bonnier News is a family-owned media group based in Sweden, operating in ten countries with about 8,000 employees. The company is the largest publisher of business newspapers in Europe and owns more than 200 brands in 10 countries.
The company said it would seek to leverage Bonnier’s expertise to accelerate its digital transformation and expansion.
The Reed Smith team advising on the deal was led by Partner Kathleen Garrett with strategic M&A advice from corporate group Co-Chair Delphine Currie and support from Associates Matthew Bowen, Roxana Burghel and Saiya Guo.
Garrett commented: “We are delighted to have worked with Business Post Group on this strategically important deal with Bonnier News. It will enable Business Post Group to accelerate its digital transformation and expansion, and to pursue its vision to grow the business both in Ireland and across the globe.”