Scandinavian fund takes stake in Johnston Press

A Norwegian newspaper owner has taken a minority stake in Johnston Press, the publisher of the i and regional newspapers.

i: this year's general election ad depicted Labour leader Jeremy Corbyn as a member of Kiss
i: this year's general election ad depicted Labour leader Jeremy Corbyn as a member of Kiss

Oslo-based investment fund Custos, the owner of free Swedish newspaper Metro, has taken a 5.14% stake in Johnston Press, it was revealed in a stock exchange filing.

Custos is now one of Johnston Press’s top six shareholders, according to The Telegraph which first reported this story. 

The company is controlled by Christen Ager-Hanssen, a Norwegian financier based in London.

Johnston Press acquired the i last year from Independent News and Media despite a track record of holding debt. 

In March the company reported that net debt was £146.1m, down 13.1% year on year, despite advertising revenue falling 17.7% in the last financial year.

Johnston Press was not immediately able to comment.