February 1, 2018 / 7:23 AM / a year ago

BRIEF-Olvi Acquires Majority Stake In Servaali

Feb 1 (Reuters) - OLVI OYJ:

* REG-OLVI ACQUIRES A MAJORITY STAKE IN SERVAALI

* DEBT-FREE PURCHASE PRICE OF COMPANY TAKEOVER IS EUR 15.8 MILLION

* ‍MADE AN AGREEMENT WITH MOMENTIN GROUP TO BUY FROM MOMENTUM 80 PERCENT OF SHARE CAPITAL OF FINNISH-OWNED COMPANY SERVAALI OY​

* DEAL AGREEMENT INCLUDES AN OPTION FOR OLVI TO REDEEM REMAINING 20% OF SERVAALI WITHIN NEXT FEW YEARS

* COMPLETION OF TRANSACTION REQUIRES APPROVAL OF FINNISH COMPETITION AND CONSUMER AUTHORITY

* ‍DEAL AGREEMENT INCLUDES AN OPTION FOR OLVI TO REDEEM REMAINING 20% OF SERVAALI WITHIN NEXT FEW YEARS​

* ACQUISITION IS EXPECTED TO COME INTO EFFECT WITHIN FIRST HALF OF 2018

* DEAL ‍INCLUDES RIGHT OF MOMENTIN GROUP TO SELL THIS REMAINDER TO OLVI​ Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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