The combination will be implemented as a statutory cross-border absorption merger whereby Arcus will be merged into Altia and dissolved.
The shareholders of Arcus will receive 0.4618 new shares in Altia for each share in Arcus owned by them, resulting in an aggregate ownership in the Combined Company following completion of 53.5% for Altia shareholders and 46.5% for Arcus shareholders.
Altia proposes to pay an extra dividend in the total amount of approximately EUR 14.5 million, corresponding to EUR 0.40 per share to Altia’s shareholders before the completion of the merger. The extra dividend will be in addition to the dividend of EUR 0.21 per share authorised by Altia’s 2020 AGM, payable by the end of 2020.
ANORA will offer a unique portfolio of iconic local, regional, and global brands. Combined with deep consumer insights and strong innovation capabilities ANORA will be able to achieve growth and meet changing consumer needs even better.
ANORA will have a strong foothold in the Nordic markets making it an attractive partner with its superior pan-Nordic route-to-market.
The merger provides a step-change in scale with expected efficiencies throughout the value chain. The transaction will also form more competitive Industrial and Logistics business units through increased internal volumes.
With a strong combined cash-flow, ANORA is well positioned for stronger international expansion.
Strong value creation from significant synergies – potential annual EBITDA net synergies of EUR 8-10 million identified.
ANORA’s preliminary aggregated annual revenue is EUR 640 million and ANORA employs 1,100 professionals around the Nordics and Baltics.
Appointments for the future Anora Group Plc’s Executive Management Team – Merger expected to be completed on 1 September 2021 (stock exchange release 18 Aug 2021)
Ex-dividend date 26 Aug 2021
Dividend record date 27 Aug 2021
Dividend payment date 3 Sep 2021
Altia’s Extraordinary General Meeting 2020 was held on 12 November 2020. The shareholders of Altia approved the merger of Altia and Arcus. Learn more about Altia's EGM here.