Orkla acquires Alcoa's stake in Elkem

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Orkla acquires Alcoa's stake in Elkem
Alcoa has today accepted Orkla's offer for Elkem shares. Alcoa had 46.5 per cent of the shares. Orkla's stake in the company, including the shares received by yesterday, is then appr. 97 per cent of the shares, as the offer period closes at 1600 hrs today.
"We are pleased to see that the offer was accepted. This will be a good solution both for Elkem and Orkla. Elkem has a strong management and organisation, and we look forward to taking part in the long term value creation in the company. We wish to continue the good cooperation with Alcoa in Elkem Aluminium, where they will continue to hold a 50 per cent stake," says Orkla's acting President and CEO Dag J. Opedal. A new release summing up preliminary results at the end of the offer will be published tomorrow morning.
Ref.: SVP Corporate Communications Ole Kristian Lunde, tel. +47 22 54 44 31
Date: 22. mar 2005 Kl 15.03