Orkla and Volvo (Fortos) are on behalf of jointly owned Pripps Ringnes
selling Hansa Bryggeri (Hansa) to a group of investors with a view to having
the company listed on the stock exchange.
On behalf of Orkla and Volvo, and in line with the employees' stated
interests, Sundal Collier has sought to find owners with a strong financial
base and a commercial interest in maintaining Hansa as an independent
combined beer and soft drink company. The acquisition of Hansa will be
effective from the beginning of 1997. The cost of taking over the entire
company has been set at NOK 410 million. Orkla and Volvo have notified the
EU Commission, which has completed its review of the matter.
Hansa is being sold because the EU Commission made the divestment of the
company's beer operations a condition for its approval of the merger between
Pripps and Ringnes in 1995.
Hansa's new owners consists of the following companies: Storebrand (15%),
Norske Liv (15%), Kredittkassen (10%), Gjensidige (10%), Varner Øglænd
Investor (10%), DS-Holding (10%), Petter C. G. Sundt (10%) and Hamang
Papirfabrikk (10%). The remaining 10% of the shares is reserved for the
employees of Hansa.
Hansa is currently Solo's bottler in Western Norway and will continue to
function as such until the end of 2001. Hansa also has a franchise agreement
with The Coca-Cola Company (TCCC) which expires in March 2000. Under this
agreement, changes of ownership in Hansa are subject to TCCC's approval. The
present owners have therefore attached importance to finding an ownership
solution for Hansa that can also ensure the continuation of the brewery's
agreement with TCCC.
Should TCCC fail to approve Hansa's new owners, the new owners will
nevertheless acquire the entire company, but the acquisition will take place
in two stages. In that case, the current owners will retain and operate the
TCCC franchise until the agreement expires, at which time the remaining
business will be transferred to the new owners on prearranged
Executive V.-President Tom Vidar Rygh, tel.: +47 22 50 10 80
Executive V.-President Halvor Stenstadvold, tel.: +47 22 50 10 80