The Norwegian Competition Authority has approved Orkla's purchase of 90.11% of the shares in Rieber & Søn ASA. The agreement with the Rieber family is planned to be completed within a week.
The approval of the Norwegian competition authorities concludes the review of the agreement under competition law. The transaction has already been approved by the EU Commission and the Russian competition authorities.
The agreement with the Rieber family - which covers the purchase of 90.11% of the shares in Rieber & Søn ASA - is planned to be completed within a week. Orkla ASA is buying the shares through its wholly-owned subsidiary Orkla Brands AS. After completion of the agreement, Orkla will make a mandatory offer to the remaining shareholders in Rieber & Søn based on the same purchase price per share that will be paid to the Rieber family. A decision will be made in parallel to conduct a compulsory acquisition of minority shareholdings, after which an application will be made to delist the company's shares from the Oslo Stock Exchange.
Oslo, 22 April 2013
Håkon Mageli, EVP Corporate Communications and Corporate Affairs
Mobile: +47 928 45 828
Rune Helland, SVP Investor Relations
Tel.: +47 22 54 44 11