The Finnish Competition and Consumer Authority unconditionally approved Sanoma Oyj's acquisition of Alma Media Oyj's regional news media business.

Media group Sanoma expects the all-cash transaction, which has an enterprise value of €115 million, to be completed by the end of April.

Under the deal, Sanoma will acquire Alma Media Kustannus Oy, which publishes regional and local newspapers across Finland, and printing services company Alma Manu Oy. The businesses will become part of Sanoma unit Sanoma Media Finland Oy.