Following Canica AS's acquisition of all of Storebrand ASA's shares in Steen & Strøm ASA at a price of NOK 397 per share, Orkla received an equivalent offer.
The offer is contingent on financing. Orkla has accepted the offer, and after the stock exchange closed on Friday entered into an agreement to sell all its 2 861 635 shares in Steen & Strøm ASA at a price of NOK 397 per share, in addition to 6 % interest per year until completion of the deal. The final deadline for completion is 24 August 2007.
After completion of the deal Orkla will own no shares in Steen & Strøm ASA.
Rune Helland, SVP Investor Relations, Tel: +47 22544411