Reykjavik (IFN) The chief executive of Icelandic media company 365, owner of UK printing company Wyndeham Press, confirmed to IFN on Wednesay, that the company is currently in discussions regarding the sale of Wyndeham.
365s chief exectutive, Ari Edwald, however would not disclose which parties were involved, nor when the planned sale is due to take place. Edwald says that 365s goal is to sell a majority share in Wyndeham in the deal.
According to sources close to the situation 365 is in talks with a UK-based investment company.
If the discussions lead to a sale, Wyndeham will be sold for the second time this year. Icelands Dagsbrun, which now has been split up into 365 and Teymi, acquired Wyndeham for GBP81 million earlier this year.
On November 15, Dagsbrun issued an ISK1.5 billion (GBP11 million) profit warning regarding the sale of Wyndeham.
Edwald says that 365s operations will be primarily based in Iceland in the near future. However 365 will own stakes in Wyndeham Press and Hans Holding, which 365 plans on selling to relieve its debt burden.
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