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Sweden's Storytel buys book publisher Norstedts
June 22, 2016 / 6:50 AM / in a year

Sweden's Storytel buys book publisher Norstedts

STOCKHOLM, June 22 (Reuters) - ** Sweden’s Storytel buys book publisher Norstedts for enterprise value of 152 mln SEK ($18.4 million)

** Storytel is a provider of subscription service for e-books and sound books

** Acquisition is fast-growing Storytel’s latest in a string of deals to buy book publishers

** Norstedts, founded in 1823, had sales of 435 mln SEK in 2015

** Norstedts authors include David Lagercrantz, author of sequel to Stieg Larsson’s Millennium trilogy

** Seller is KF, The Swedish Cooperative Union

$1 = 8.2662 Swedish crowns Reporting by Sven Nordenstam, editing by Johannes Hellstrom

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