The companies now have all the necessary regulatory approvals in place.
Finnish The merger of Altia and Norwegian Arcus has been confirmed, as the companies have received all the necessary regulatory approvals. According to Altia, in accordance with the conditions of the competition authorities, the companies have sold several alcoholic beverage brands to the Swedish Galate.
The merger of Altia and Arcus is scheduled for completion by the end of September. The name of the merged company will be Anora. Altia and Arcus announced their intention to merge last September.
Altia’s shareholders receive a 53.5 percent majority in Anora.
Altia says Galatea has agreed to buy Altia ‘s aquavit brands Skåne Akvavit, Hallands Fläder and Brøndums, and the cognac brand Grönstedts. Arcus, in turn, sells the aquavit brand Akevitt Spesial and the spirits brands SPRT and Dworek.
Altia and Arcus have also committed to provide Galatea with transitional services for three years.
Sales do not include production equipment, facilities or employees.
Finland, The Norwegian and Swedish competition authorities imposed conditions on the acquisition of Altia and Arcus. In May, competition authorities required companies to sell their wholesale brands.
Altia said at the time that sales negotiations were pending with several potential buyers.
Both companies have had a strong position in the Nordic alcohol market. Altia operates in the Nordic and Baltic markets for wines and spirits. Arcus, on the other hand, is the world’s largest producer of aquavit. It also has strong market positions in the Nordic market for wines and spirits.
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