Finland's Altia ties up with Norway's Arcus in liquor, wine merger

Anora Oyj

29/09/2020 07:25

OSLO, Sept 29 (Reuters) - Finnish alcoholic drinks maker and
distributor Altia  ALTIA.HE  has agreed to buy Norwegian rival
Arcus  ARCUS.OL  in an all-share deal, the two companies said on
Tuesday.
    Altia's current shareholders will own 53.5% of the combined
group, which is to be renamed Anora, while the owners of Arcus
will hold a 46.5% stake, according to the deal.
    "The merger will form a wine and spirits brand house with
leading presence across the Nordics with a relevant market
presence also in the Baltics," the companies said.
    The combined entity had revenue of around 640 million euros 
($747 million) in 2019 and currently employs around 1,100 people
in eight countries.
    Subject to regulatory approvals, the aim is to complete the
deal in the first half of 2021.
    Norwegian billionaire Stein Erik Hagen's Canica investment
company is set to become the single biggest shareholder with a
stake of 22.4%, while the Finnish government will hold 19.4% of
the combined firm.

($1 = 0.8568 euros)

 (Reporting by Terje Solsvik, editing by Louise Heavens)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70))