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Orkla ASA (ORK.OL)

ORK.OL on Oslo Stock Exchange

85.35NOK
26 May 2017
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Latest Key Developments (Source: Significant Developments)

Orkla Food Ingredients inks licence deal with Renaissance Bioscience
Tuesday, 23 May 2017 05:40pm EDT 

May 23 (Reuters) - Orkla Asa :Orkla food ingredients- signed licence agreement with renaissance bioscience corp. To exclusively produce, sell renaissance acrylamide-reducing yeast.  Full Article

Orkla buys Danish personal care company Riemann Holding
Friday, 19 May 2017 02:12am EDT 

May 19 (Reuters) - Orkla Asa ::Orkla Care has signed and closed an agreement to purchase 100% of the shares in the Danish company Riemann Holding A/S .The company will be consolidated into Orkla’s financial statements as from 1 June 2017. .The parties have agreed not to disclose the purchase price..In 2016, Riemann had a reported turnover of DKK 133.5 million (approx. NOK 168 million) and EBITDA of DKK 26.4 million (approx. NOK 33 million)..The company holds good positions in the sun protection and antiperspirant markets, and with the acquisition of Riemann, Orkla Care is strengthening its presence in the pharmacy channel..  Full Article

Orkla Food Ingredients buys 80 pct of Danish sales and distribution firm
Tuesday, 16 May 2017 02:15am EDT 

May 16 (Reuters) - Orkla Asa :Orkla Food Ingredients, through its partially owned subsidiary Dragsbæk A/S, has signed and carried out an agreement to purchase 80% of the shares of SR Food A/S, the Danish sales and distribution company. In 2016, SR Food’s EBIT came to DKK 11.3 million (approximately NOK 14 million).The parties have agreed not to disclose the purchase price.  Full Article

Orkla CEO repeats plans to sell its stake in Sapa
Tuesday, 9 May 2017 02:58am EDT 

May 9 (Reuters) - Orkla Asa :Orkla CEO Peter Ruzicka repeats plans to divest from aluminum producer Sapa, but declines to give details on the timing."I will not comment on the timing of our exit from Sapa, except to say that we have been very clear that Sapa is not part of our core business," Ruzicka says during Orkla's Q1 results presentation."We will eventually exit our holding in Sapa, but I cannot give any details about timing or (whether it will be an) IPO, a sale or a dual track process, Ruzicka says.Orkla holds 50 pct stake in Sapa, and Norsk Hydro <<>> has the remaining 50 pct.  Full Article

Orkla Q1 results as expected, sees moderate growth ahead
Tuesday, 9 May 2017 12:59am EDT 

May 9 (Reuters) - Orkla Asa :Orkla Q1 adjusted EBIT NOK 900 mln (Reuters poll NOK 904 mln).Orkla Q1 revenues NOK 9,081 million (Reuters poll NOK 9.16 bln).Says profit from associates and joint ventures rose by 5 percent to NOK 485 million.Says Sapa's profit rose by 49 percent, and Orkla's share amounted to NOK 312 million..Says the improvement at Sapa is mainly due to higher earnings from a larger share of value-add business and continuous internal improvements..Says growth is expected to remain moderate in the years ahead.Says aims to deliver organic turnover growth that at least matches market growth and growth in annual adjusted EBIT of 6–9 percent in Branded Consumer Goods in the period 2016–2018. .  Full Article

Orkla buys Eis Ludwig Gräbner gmbh
Friday, 5 May 2017 02:35am EDT 

May 5 (Reuters) - Orkla Asa ::Orkla food ingredients, through its wholly owned subsidiary Eisunion GmbH, has signed and completed to purchase 100 percent of the shares in the German sales and distribution company Eis Ludwig Gräbner gmbh.Eis Gräbner is a privately owned company established in 1929 and has 18 employees.The company’s head office and warehouse are located in Hannover, Germany. In 2016, Eis Gräbner had a turnover of EUR 6.5 million (approx. NOK 61 million). Several cost measures have been identified and will be implemented over the next two years.  Full Article

Orkla issued commercial paper of NOK 400 mln
Monday, 24 Apr 2017 05:28am EDT 

April 24 (Reuters) - Orkla Asa :Has issued a commercial paper of NOK 400 million ($47 million).  Full Article

Orkla, Thon Holding AS and Oestfold Energi sells Rygge Airport to Jotunfjell Partners
Wednesday, 5 Apr 2017 12:48am EDT 

Orkla Asa : Orkla, Thon Holding as and Oestfold Energi have signed an agreement with the investment company Jotunfjell partners on the sale of Rygge Sivile Lufthavn as . Under the agreement, the current shareholders, Orkla (40 pct), Thon Holding AS (40 pct) and Oestfold Energi (20 pct) are selling all the shares in Rygge Sivile Lufthavn AS (RSL) to Jotunfjell Partners . This includes the take-over of the terminal building and other civilian installations at Moss Airport Rygge, which was operated by RSL until it was shut down on 1 November 2016 .The parties have agreed not to disclose the details of the agreement that has been concluded.  Full Article

Norway's Orkla buys UK food ingredients, accessories firm
Monday, 3 Apr 2017 02:14am EDT 

Orkla Asa : Says has signed and completed an agreement to purchase 85 pct of the shares in the British sales and distribution company Orchard Valley Foods Limited . Says Orchard Valley holds strong positions as a supplier of ingredients and accessories to the UK bakery, chocolate and ice cream market. Most of its turnover is generated in the UK, but the company also has increasing exports to Europe . Orchard Valley is a privately-owned company and has a total of 72 employees . The company's head office and production facilities are located in Tenbury Wells, UK . In the financial year ending on 31 May 2016, Orchard Valley posted a turnover of GBP 23.9 million ($30 million) and normalised EBITDA of GBP 2.0 million . The agreement also includes an option to purchase the remaining 15 pct of the shares. The company will be consolidated into Orkla's financial statements from 1 April 2017. .The parties have agreed not to disclose the purchase price.  Full Article

Orkla initiates a share buyback program for up to 1.5 mln shares
Monday, 20 Feb 2017 02:20am EST 

Orkla Asa : Orkla has decided to initiate a share buyback program for up to 1.5 million shares in market . Orkla asa: program will be initiated today and terminated on 12 April 2017 at latest .The shares purchased under this program will be used for Orkla's stock- and incentive program for own employees.  Full Article

More From Around the Web

BRIEF-Orkla Food Ingredients inks licence deal with Renaissance Bioscience

* Orkla food ingredients- signed licence agreement with renaissance bioscience corp. To exclusively produce, sell renaissance acrylamide-reducing yeast Source text for Eikon: Further company coverage: