Norwegian food group Rieber & Søn has implemented the demerger of its King Oscar business, the company announced today (1 October).
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The business is now incorporated in Rieber & Søn’s wholly owned daughter company King Oscar AS, in accordance with the decisions taken by a general assembly on 12 May this year.
The shareholders of Rieber & Søn ASA have been unaffected by the demerger/merger, the company said. The number of Rieber & Søn shares, their nominal value and the underlying value of each share are unchanged.
Rieber & Søn announced yesterday that it had agreed to sell its Sopps brand and related portfolio of pasta products to grain-based food maker Lantmännen Cerealia.
The deal, which will generate a gain of NOK50m (US$8.7m), will allow Rieber to focus its efforts on its “core” businesses, the company said.
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