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Orkla sells forests to Statskog

Orkla sells forests to Statskog

Orkla is selling the wholly-owned forest companies Borregaard Skoger AS, AS Børresen and Borregaard Vafos AS to Statskog for a total of NOK 1 725 million.

We refer to earlier communications regarding the sale of Orkla's forests.

Orkla is selling the wholly-owned forest companies Borregaard Skoger AS, AS Børresen and Borregaard Vafos AS to Statskog for a total of NOK 1 725 million after a broad process with strong competition and a number of attractive offers . The sale covers approximately 1.1 million decares, of which around 750 000 decares are productive forest land. The transaction also encompasses Borregaard Skoger's equity interest in Statskog-Borregaard Skogsdrift (SB Skog).

The transaction is subject to approval by Stortinget (the Norwegian Parliament). Completion of the transaction also assumes approval by the Norwegian Competition Authority.