Keystone Advisers

New Keystone Advisers transaction: Divestment of BNS Group

Pressmeddelande   •   Mar 04, 2014 09:00 CET

Keystone Advisers and PCA Corporate Finance jointly advised Alma Media Corporation, a public company listed on the Helsinki stock exchange, in the process of divesting 100% of the shares of Balti Uudistetalituse AS (BNS Group) to an Estonian private investment company Koha Capital OÜ.

BNS Group consists of Baltic News Service companies in Estonia, Latvia and Lithuania and media monitoring companies ETA (Estonia), Mediju Monitorings (Latvia) and Mediaskopas (Lithuania). The consolidated revenues of the group were €4.2 million in 2013.

Alma Media was the owner of BNS Group since 1998. The price of the transaction is not disclosed.

Keystone Advisers was represented by Tõnis Kons (Partner), Stanislav Gutkevitš (Associate) and Andrus Lukke (analyst) and from PCA Corporate Finance Juha Raunio (Partner) and Tommi Walther (Partner).


Keystone Advisers is a fully independent Corporate Finance firm offering advice related to mergers and acquisitions (M&A), divestitures, as well as various financing arrangements. The firm has advised on approximately 140 transactions to a variety of different clients in a number of sectors since the inception in 2000. Keystone Advisers is a Partner owned firm and where the founders have experience from Investment Banking and Management Consulting from some of the largest global institutions. We are a team of 12 Corporate Finance professionals at the Stockholm office and in addition we have an own organization in the Baltic countries. Keystone Advisers aims to be the leading mid-market M&A advisory firm in the Swedish market.