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BRIEF-Orkla divests laundry business
July 4, 2017 / 10:09 AM / 5 months ago

BRIEF-Orkla divests laundry business

July 4 (Reuters) - Orkla Asa

* Divests laundry business

* Orkla Care has entered into an agreement to sell Lilleborg’s professional laundry business to the Belgian company Christeyns, which offers hygiene and cleaning products and services

* The reason for the divestment is that the laundry business lies outside Lilleborg’s strategic priorities

* The business that is being transferred reported turnover of NOK 37 million ($4.42 million) in 2016. The agreement is expected to be completed in the autumn of 2017. The parties have agreed not to disclose the purchase price. Source text: bit.ly/2tLW8dm Further company coverage: ($1 = 8.3689 Norwegian crowns)

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