Mecom is headed by former Mirror Group chief executive David Montgomery and owns newspapers in Sweden, Germany, Poland, Denmark and Ukraine.
The offer agreed between Mecom and Royal Wegener values the latter at up to €806m (£548m). Mecom already owns 20% of Royal Wegener.
Royal Wegener sold its UK lifestyle data capture and broking business to DLG at the same time as disposing of its European businesses to Greenfield Capital Partners, for a total of €30m.
In expanding to the UK a few years earlier it had paid £81m to acquire Dudley Jenkins, which it renamed Wegener DM.