Orkla sells forests to Statskog

 We refer to earlier communications regarding the sale of Orkla's forests.

Orkla is selling the wholly-owned forest companies Borregaard Skoger AS,  AS
Børresen and Borregaard Vafos AS to Statskog for a total of NOK 1 725 million
after a broad process with strong competition and a number of  attractive offers
.  The sale covers approximately 1.1 million decares, of which around 750 000
decares are productive forest land. The transaction also encompasses Borregaard
Skoger's equity interest in Statskog-Borregaard Skogsdrift (SB Skog).

The transaction is subject to approval by Stortinget (the Norwegian
Parliament).  Completion of the transaction also assumes approval by the
Norwegian Competition Authority.



Contact persons:

Rune Helland, Tel: +47 22 54 44 11

 Roar Engeland, Tel: +47 926 53 197

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


[HUG#1454743]








This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
    other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
     originality of the information contained therein.

Source: Orkla ASA via Thomson Reuters ONE