In its press release of 29 March 2019, Orkla announced that it had entered into an agreement to acquire Stelios Kanakis Industrial and Commercial S.A. («Kanakis»). The acquisition of approx. 66% of the shares from the Kanakis family has now been completed.
In addition, Orkla has at present acquired approx. 8.5% of the shares in the market. Followingly, a squeeze-out process can be implemented as soon as the offer period in the voluntary tender offer has expired.
The company will be consolidated into Orkla's financial statements as from 1 May 2019.
Please find enclosed the press release issued 29 March 2019.
Orkla is a leading supplier of branded consumer goods and concept solutions to the consumer, out-of-home and bakery markets in the Nordics, Baltics and selected markets in Central Europe and India. Orkla is listed on the Oslo Stock Exchange and its headquarters is in Oslo. In 2018, the Group had a turnover of NOK 41 billion, and approximately 18,500 employees as of 31 December 2018.
Oslo, 5 April 2019
Group Director Corporate Communications and Corporate Affairs
Tel.: +47 928 45 828
Tel.: +47 951 41 147