Wyndeham Group News > Wyndeham to be Acquired by Major Financial Investor

Wyndeham to be Acquired by Major Financial Investor

17th November 2007

Wyndeham announced today that negotiations to sell the business to a major financial investor are at an advanced stage. This follows a restructuring of Dagsbrun, the current parent company of Wyndeham. Until the transaction is completed Dagsbrun remains committed to Wyndeham.

The announcement follows the decision of Dagsbrun’s shareholders to reorganise Dagsbrun into two separate public companies; a media company called 365 Media, of which Wyndeham would have formed the majority element, and a telecoms and IT company named Teymi. Under this restructuring all the shares in Wyndeham would have been owned by 365 Media, a company which is focused on Icelandic media assets.

Commenting on today’s announcement Paul Utting, Chief Executive, Wyndeham Press Group said:

“Wyndeham has an exciting strategy requiring continued financial backing and to this end a new majority shareholder is an important cornerstone. Wyndeham remains wholly focussed on developing the business further, servicing the requirements of our customers and continuing to advance our strong position in the markets in which we operate. We look forward to doing so with our new partners.”