News > Dagsbrún Takeover Offer for Wyndeham Press Group PLC

Dagsbrún Takeover Offer for Wyndeham Press Group PLC

24th March 2006

Wyndeham Press Group PLC, one of the leading print groups in the UK, has confirmed today that it is recommending a takeover offer received from a member of the Dagsbrún Group, an Icelandic media, telecommunications and IT investment company.

Wyndeham Press Group PLC, one of the leading print groups in the UK, has confirmed today that it is recommending a takeover offer received from a member of the Dagsbrún Group, an Icelandic media, telecommunications and IT investment company.

“The Wyndeham deal is particularly good news for Dagsbrún for three reasons. First, Wyndeham, with its history of profitability and growth, a leading position in the market and excellent relationships with the majority of the UK magazine publishing groups, is a sound investment. Secondly, Wyndeham is a very good fit with our business portfolio and the deal will bring a number of benefits to Dagsbrún, one of which is deriving part of our revenues from aboard. Thirdly, the acquisition instantly provides us with a strong foothold in the UK from which to develop further our media businesses,” said Thordis Sigurdardottir, Chairman of Dagsbrún.

“I and the management team at Wyndeham are very excited about the potential of this opportunity. Having the backing and support of a successful and entrepreneurial company such as Dagsbrún means that we can accelerate our long term business plans to ensure that we are best positioned to take advantage of changing market dynamics and provide our customers with leading-edge print solutions,” said Paul Utting, CEO of Wyndeham.


About Dagsbrún:

Over the last five years, Dagsbrún has, through a combination of organic growth and acquisitions, built up extensive operations in media, entertainment, telecommunications, print and related sectors in Iceland and the Faroe Islands. The Dagsbrún Board has now taken a strategic decision to expand the reach of these core sectors outside of its home market.

Dagsbrún is based in Reykjavik, Iceland, and has been listed on the Icelandic stock exchange since June 2001 (ticker:”DB”) and has a current market capitalisation of approximately ISK 34.95 billion (£279 million).