Orkla Acquires Alcoa's Stake in Elkem

Orkla Acquires Alcoa's Stake in Elkem 


OSLO, Norway, March 22  /PRNewswire/ -- Alcoa has today accepted Orkla's offer
for Elkem shares. Alcoa had 46.5 percent 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 percent 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. [phone] 

DATASOURCE: Orkla



CONTACT: SVP Corporate Communications, Ole Kristian Lunde,

[phone]



Web site: http://www.orkla.com/ 

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