Brief: Altia And Arcus To Join Forces To Form A Leading Wine And Spirits Brand House

Anora Oyj

29/09/2020 06:51

(Repeats brief to add metadata)
    Sept 29 (Reuters) - Altia Oyj  ALTIA.HE :
    * ALTIA AND ARCUS TO JOIN FORCES TO FORM A LEADING WINE AND SPIRITS BRAND HOUSE
    * COMBINED COMPANY'S PRELIMINARY AGGREGATED ANNUAL REVENUE IS EUR 640 MILLION IN 2019
    * ANORA EMPLOYS APPROXIMATELY 1,100 PROFESSIONALS AROUND NORDICS AND BALTICS.
    * COMBINED COMPANY TO BE NAMED ANORA GROUP PLC.
    * SAYS ANORA IS WELL POSITIONED FOR STRONGER INTERNATIONAL EXPANSION.
    * SHAREHOLDERS OF ARCUS WILL RECEIVE 0.4618 NEW SHARES IN ALTIA FOR EACH SHARE IN ARCUS
OWNED BY
THEM,
    * PROPOSES TO PAY AN EXTRA DIVIDEND IN TOTAL AMOUNT OF APPROXIMATELY EUR 14.5 MILLION
    * IT IS EXPECTED THAT COMPLETION OF MERGER WILL TAKE PLACE DURING FIRST HALF OF 2021
    * DIVIDEND CORRESPONDING TO EUR 0.40 PER SHARE TO ALTIA'S SHAREHOLDERS BEFORE COMPLETION OF
MERGER
    * COMPANIES EXPECT THAT MOST OF SYNERGIES WILL BE ACHIEVED WITHIN APPROXIMATELY TWO YEARS
FROM
COMPLETION OF MERGER
    * COMBINATION IS ALSO EXPECTED TO CREATE LONG-TERM POSITIVE EFFECTS THAT WILL CONTINUE TO
MATERIALISE EVEN AFTER THIS PERIOD.
    * EXTRA DIVIDEND WILL BE IN ADDITION TO DIVIDEND IN TOTAL AMOUNT OF APPROXIMATELY EUR 7.6
MILLION
    * COMBINED COMPANY TO BE NAMED ANORA GROUP PLC
    * POTENTIAL ANNUAL EBITDA NET SYNERGIES OF EUR 8-10 MILLION IDENTIFIED.
    * EGMS ARE CURRENTLY EXPECTED TO BE HELD IN NOVEMBER 2020
    * ANORA TEMPORARY SECONDARY LISTING OF SHARES WILL BE SOUGHT ON OSLO BØRS
    * AS A CONSEQUENCE OF COMPLETION OF MERGER, ARCUS WILL DISSOLVE
    * COMBINATION OF ALTIA AND ARCUS WILL BE EXECUTED THROUGH A TAX NEUTRAL STATUTORY
CROSS-BORDER
ABSORPTION MERGER OF ARCUS INTO ALTIA

Source text for Eikon:  ID:nWkr4CF3cB 
Further company coverage:  ALTIA.HE 

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