Blog: Orkla initiates compulsory acquisition of Rieber shares
Katy Askew | 26 April 2013
Orkla Brands has made a mandatory offer for all the shares of Rieber & Søn that it does not already own.
The offer price is NOK67.45 per share, which is the same price per share as paid to the Rieber family for its majority 90% stake, Orkla said.
When Orkla announced the deal last August, the company said the takeover was "a significant step" to becoming a "pure-play branded consumer goods company".
Orkla has been selling off non-consumer assets in recent years but still has interests in sectors including aluminium, financial investments and hydro power in order to focus on its food interests. Funds from these disposals will either be fuelled to fund M&A and drive growth or returned to shareholders, management has indicated.
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