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Orkla ASA (ORK.OL)

ORK.OL on Oslo Stock Exchange

80.85NOK
18 Aug 2017
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Latest Key Developments (Source: Significant Developments)

Orkla has issued a commercial paper of nok 1 bln
Thursday, 20 Jul 2017 12:50am EDT 

July 20 (Reuters) - Orkla Asa :Orkla asa has issued a commercial paper of 1,000,000,000 Norwegian crowns ($123.98 million).Start date 26 July, 2017.Maturity 26 September, 2017.Coupon 0.85 pct.Organised by DNB Markets.  Full Article

Orkla chairman Hagen buys more shares
Monday, 17 Jul 2017 02:00am EDT 

July 17 (Reuters) - ORKLA :ACCORDING TO A RESOLUTION BY GENERAL MEETING OF ON 20 APRIL 2017, SHAREHOLDER-ELECTED BOARD MEMBERS ARE REQUIRED TO USE MINIMUM 1/3 OF THEIR GROSS BOARD FEE TO PURCHASE SHARES IN ORKLA, UNTIL THEY OWN SHARES IN ORKLA WITH A VALUE EQUIVALENT TO TWO TIMES THEIR GROSS BOARD FEE..STEIN ERIK HAGEN, CHAIRMAN OF BOARD OF ORKLA, HAS PERSONALLY BOUGHT 10,000 SHARES AT A PRICE OF NOK 86.05 PER SHARE.FOLLOWING THIS TRANSACTION, HAGEN AND RELATED PARTIES OWN 249,152,000 SHARES IN ORKLA..  Full Article

Norway's Orkla Q2 adjusted EBIT slightly beat forecast
Friday, 14 Jul 2017 01:05am EDT 

July 14 (Reuters) - ORKLA ASA :ORKLA Q2 REVENUES NOK 9,771 MILLION (REUTERS POLL NOK 9.74 BILLION).ORKLA Q2 ADJUSTED EBIT NOK 1,025 MILLION (REUTERS POLL NOK 1.01 BILLION).ORKLA Q2 PRETAX RESULT NOK 967 MILLION (REUTERS POLL NOK 1.38 BILLION).  Full Article

Hydro to raise equivalent of NOK 6-8 billion in bond market
Monday, 10 Jul 2017 04:07am EDT 

July 10 (Reuters) - Norsk Hydro's CFO Eivind Kallevik told reporters::Norsk Hydro plans to raise equivalent of NOK 6-8 billion ($720.46 million-$960.61 million) in bond market in USD and NOK after Sapa deal.Duration of bonds not yet decided.  Full Article

Orkla divests laundry business
Tuesday, 4 Jul 2017 06:08am EDT 

July 4 (Reuters) - Orkla Asa :Divests laundry business.Orkla Care has entered into an agreement to sell Lilleborg’s professional laundry business to the Belgian company Christeyns, which offers hygiene and cleaning products and services.The reason for the divestment is that the laundry business lies outside Lilleborg’s strategic priorities.The business that is being transferred reported turnover of NOK 37 million ($4.42 million) in 2016. The agreement is expected to be completed in the autumn of 2017. The parties have agreed not to disclose the purchase price..  Full Article

Orkla says acquisitions key to growth; reiterates targets
Thursday, 1 Jun 2017 01:29am EDT 

June 1 (Reuters) - Orkla Asa :Acquisitions are still a key factor in group's growth strategy.Focuses primarily on acquisitions in markets and categories where group can gain a leading position and exploit economies of scale.In line with company's dividend policy, group will continue to pay a share of its excess capital back to shareholders.Says targets remain firm: ."Keep the strategy on track"."Deliver organic growth at least in line with market growth"."Target annual EBIT (adj.) growth of 6-9% in BCG", Including add-ons, excluding currency effects and large acquisitions and divestments."Maintain a stable dividend of at least NOK 2.50 per share".  Full Article

Orkla: Jotun posts sharp fall in Jan-Apr operating profit
Tuesday, 30 May 2017 03:00pm EDT 

May 30 (Reuters) - Orkla Asa on Tuesday posted earnings for paints maker Jotun, where it holds a 42.5 pct stake::Jotun's jan-apr operating revenues nok 5.34 billion, down 2.6 per cent from the same period of 2016.Jotun's jan-apr operating profit was nok 670 million versus year-ago nok 935 million.Jotun's increased sales of decorative paints could not compensate for the decline in the marine and offshore sectors.In addition, a weakened Norwegian crown currency, compared to the same period last year, impacted negatively Jotun's operating revenues.  Full Article

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

EU mergers and takeovers (Aug 18)

BRUSSELS, Aug 18 The following are mergers under review by the European Commission and a brief guide to the EU merger process: