Regions

In a press release issued today, Orkla Brands AS has announced the completion of the acquisition of 69,900,380 shares in Rieber & Son ASA. WIth the acquisition, OBAS would be owning 90.11% of shares in Rieber.

It was also announced that by virtue of the transaction and compliance with the Norwegian Securities Trading Act, OBAS is mandated to offer to purchase all the remaining shares of Rieber it does not already own. The price per share offered is NOK67.45, a price equal to the offered price paid to Rieber and Son ASA. 

The offer period for the share purchases are from 29 April 2013 to 27 May 2013. The settlement of the purchased shares would be completed by 10 June 2013. Objections would be allowed only until 1 July 2013.

To assist in the management of the share sale, OBAS has engaged the services of DNB Markets as financial advisor and receiving agent.