Tender offer on Kotipizza Group

Orkla ASA announces a recommended public cash tender offer for all shares in Kotipizza Group Oyj

Orkla ASA (“Orkla”or the “Offeror”) and Kotipizza Group Oyj (“Kotipizza”) have on 22 November 2018 entered into a Combination Agreement (the “Combination Agreement”) pursuant to which Orkla will make a voluntary recommended public cash tender offer to purchase all of the issued and outstanding shares in Kotipizza that are not owned by Kotipizza or any of its subsidiaries (the “Tender Offer“). In the Tender Offer, Kotipizza’s shareholders will be offered a cash consideration of EUR 23.00 for each share, valuing Kotipizza’s equity at approximately EUR 146.1 million. The Board of Directors of Kotipizza has unanimously decided to recommend that the shareholders of Kotipizza accept the Tender Offer.

The offer period under the tender offer commences on 7 December 2018 and ends on 15 January 2019, subject to any extension of the offer period by the offeror in accordance with the terms and conditions of the tender offer.

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