Orkla submits offer to buy A shares in Jotun
(Thomson Reuters ONE) -
The offer has been made by Orkla's wholly-owned subsidiary, Lilleborg AS, and
concerns the purchase of all the A shares in Jotun AS that are not already owned
by Orkla (i.e. a total of 72,019 A shares). The price offered, NOK 70,000 per A
share, is payable in cash.
Completion of the offer is conditional on, among other things, Orkla acquiring a
total stake in Jotun AS, after the exercise of any pre-emptive rights to shares
by other shareholders, that represents more than 50% of the voting rights in the
company.
Orkla already owns 41,981 A shares and 103,446 B shares in the company, which is
equivalent to 42.5% of share capital and 38.2% of the voting rights in Jotun. If
Orkla acquires 50.1% of the votes, this will entail a total investment of NOK
1.1 billion.
If all the A shareholders accept the offer, Orkla's stake in Jotun will
represent 63.6% of the share capital and 90.9% of the voting rights. In such
case, the total purchase price will be NOK 5 billion.
The acceptance period expires on 30 September 2011; however, Orkla reserves the
right to extend this deadline.
Orkla ASA
Oslo, 31 August 2011
Ref.:
Senior VP Corporate Communications and Public Affairs
Johan Chr. Hovland
Telephone +47 22 54 44 86/+47 917 63 491
Senior VP Investor Relations
Rune Helland
Telephone +47 22 54 44 11
VP Investor Relations
Siv M. Skorpen Brekke
Telephone +47 22 54 44 55/+47 930 56 093
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
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
[HUG#1542596]
Unternehmensinformation / Kurzprofil:
Datum: 31.08.2011 - 08:02 Uhr
Sprache: Deutsch
News-ID 60879
Anzahl Zeichen: 2316
contact information:
Town:
Oslo
Kategorie:
Business News
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"Orkla submits offer to buy A shares in Jotun"
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