In its press release of 22 January 2018, Orkla announced that it had entered into an agreement to increase its ownership to a 50% stake in the joint venture company Anza Verimex NV. At the same time, Orkla will take over 50% of the painting tool operations in PGZ International B.V.
The transaction has been approved by relevant competition authorities, and was completed today.
The company's EBIT result will be reported as "Profit from associates and joint ventures" in the income statement using the equity method from the date of completion of the agreement.
Please find enclosed the press release issued 22 January 2018.
Orkla is a leading supplier of branded consumer goods and concept solutions to the grocery, 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 head office is in Oslo. In 2017, the Group had a turnover of approximately NOK 39.6 billion, and 18,000 employees at year end.
Oslo, 3 April 2018
Group Director Corporate Communications and Corporate Affairs
Tel.: +47 928 45 828
Tel.: +47 951 41 147