Ratos's subsidiary Arcus Gruppen has decided to reduce its share capital by distributing approximately SEK 550m to its shareholders of which Ratos will receive approximately SEK 460m (NOK 395m). The distribution is made possible by the sale of the property in Hasle outside Oslo in June.
Arcus Gruppen is Norway's leading wine and spirits supplier. The company was formed in 1996 on the initiative of the Norwegian government and privatised in 2000. The group's best-known brands include Braastad Cognac, Vikingfjord Vodka, Hammer Gin, Upper Ten Whiskey, Løiten and Linie Aquavit. The group has 440 employees.
In June, Arcus Gruppen sold its property in Hasle in central Oslo which generated a capital gain of SEK 745m. A new and more effective production plant is to be built near Gardermoen and is scheduled for completion in 2011. Arcus Gruppen will remain in the Hasle property during the interim period.
- Ratos CEO Arne Karlsson: "As a result of continued favourable development and a well conducted property sale, Arcus Gruppen currently has a balance sheet that is far too strong. The reduction in share capital we are now carrying out will give the company a better and more efficient capital structure".
The reduction means that the consolidated book value of Arcus Gruppen in Ratos's balance sheet will decrease by approximately SEK 460m to approximately SEK 730m based on the book value at 30 September 2007. The distribution will have no impact on Ratos's earnings.
The distribution in Arcus Gruppen is subject to registration with the Norwegian Register of Business Enterprises (Foretaksregisteret).
For further information, please contact:
Arne Karlsson, CEO Ratos, +46 8 700 17 00
Clara Bolinder-Lundberg, Head of Corporate Communications Ratos, +46 8 700 17 63
Leif Johansson, Investment Director Ratos, +46 8 700 17 77