Roularta Media Group NV (ENXTBR:ROU) made a binding offer to acquire the Belgian women's magazine portfolio of Sanoma Oyj for €33.7 million on January 16, 2018. In relation to this transaction, Roularta would sell one of its own tittles to Sanoma for €1 million which would be deducted from the purchase price. The enterprise value represents an EBIT multiple of 5.5. For the year 2017, the magazine portfolio generated revenues of €81 million. The transaction is subject to customary regulatory and antitrust approvals. The transaction is also subject to consultation from employee representatives and compliance with Belgian labour law provisions. The transaction is expected to close by the end of second quarter of 2018.

Roularta Media Group NV (ENXTBR:ROU) completed the acquisition of Belgian women's magazine portfolio of Sanoma Oyj on June 29, 2018. As of June 29, 2018, Belgian Competition Authority (BMA) approved the deal.