OREANDA-NEWS. May 17, 2012. SORAINEN assisted Sanoma in its divestment of a chain of bookstores operated in Estonia under the trade names of Apollo and Videoplanet. The divestment is part of Sanoma Group strategy, reported the press-centre of SORAINEN.

Turnover of Apollo stores in 2011 was EUR 12.8 million. Apollo is the largest bookstore chain in Estonia, managing 10 shops and online store apollo.ee.

Our advice included limited vendor’s legal due diligence, pre-transaction structuring, and assistance in closing the transaction.

The client was advised by specialist counsel Kadri Kallas and associate Ulla Jurimae.