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-Norway's Orkla to divest forest assets for NOK1.725bn.

NORDIC BUSINESS REPORT-October 25, 2010--Norway's Orkla to divest forest assets for NOK1.725bn(C)2010 M2 COMMUNICATIONS

25 October 2010 - Norwegian multi-industry group Orkla ASA (OSL: ORK) said today it is selling its wholly-owned forest firms

Borregaard Skoger, Borresen and Borregaard Vafos to forest owner Statskog for a total of NOK1.725bn.

The transaction covers about 1.1 million decares, of which around 750,000 decares are productive forest land, as well as Borregaard Skoger's interest in entity Statskog-Borregaard Skogsdrift, or SB Skog.

Orkla said it selected Statskog after a broad competition process.

The deal is subject to approval by the Norwegian parliament, or Stortinget, and by the Norwegian competition authority.

(EUR1 = NOK8.1)

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Title Annotation:Orkla ASA
Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXNO
Date:Oct 25, 2010
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