Sanoma has agreed to sell its 67% stake in the Dutch TV business SBS to Talpa Broadcasting Holding B.V. for a net cash consideration of EUR 237 million and will obtain 100% ownership of the TV guide business Veronica Uitgeverij as part of the transaction (a double carve out). SBS is the third largest free-to-air TV broadcaster in the Dutch market with four TV channels: SBS 6, NET5, SBS9 and Veronica. The divestment is subject to closing conditions including customary regulatory approvals and is expected to close in the third quarter of 2017.

The Clifford Chance team that advised Sanoma was led by Greg Crookes and furthermore consisted of Tijmen Bongartz and Han Kalule (Corporate), Frances Dethmers, Frans Muller, Jurre Juriens (Antitrust), Jaap Tempelman, Andrei Mikes (data, IP, commercial contracts), Floris van de Bult, Sanne Blankestijn (Employment), Michiel Sunderman, Stern Flik (Tax), Mark Jan Arends and  Tjerk de Jonge (notary).