Swedish media group Bonnier News has agreed a deal to take a majority stake in the Business Post Group, the company has confirmed.
No financial details of the arrangement have been disclosed. The deal remains subject to regulatory approval from the Competition and Consumer Protection Commission and the Minister for Media, Patrick O’Donovan.
Bonnier News first entered talks to acquire a stake in the Business Post Group in 2022. In July 2023, the Swedish company agreed a €6 million deal for a minority stake in the business.
A statement from the Business Post Group said Bonnier News has now agreed to take over the company, with the deal expected to close before the end of June.
Current owner Enda O’Coineen will retain a minority stake through his Kilcullen Family Office as part of the arrangement. Changes to the board are expected at a later date.
Bonnier News chief executive Anders Eriksson said the deal would deepen the company’s existing involvement in the Business Post Group.
Business Post editor Daniel McConnell described it as a “significant day” for the company.
“Our partnership with Bonnier has been an extraordinary success, and working with Peter Fellman and the Bonnier team, I look forward to the next chapter on this journey of growth and delivering for our loyal readers and subscribers every day,” he said.
O’Coineen said Bonnier News had been an “outstanding partner” in recent years and that he looked forward to continuing his support of the Business Post Group as a minority shareholder.
Nordic publisher Bonnier has 200 news titles across Croatia, Denmark, Estonia, Finland, Germany, Lithuania, the Netherlands, Norway, Poland and Slovenia. It is the largest media company in the Nordic region, employing 2,000 journalists across its titles.
