Oriola-KD Corporation is investigating strategic options for its Russian businesses, including negotiations concerning the sale of operations
10.10.2014
Oriola-KD Corporation Stock Exchange Release 10 October 2014 at 11.30 a.m.
Oriola-KD Corporation is investigating strategic options for its Russian
businesses, including negotiations concerning the sale of operations
Oriola-KD Corporation ("Oriola-KD" or the "Company") has taken notice of certain
public reports stating that the Company would be engaged in negotiating the sale
of its Russian operations. Oriola-KD has stated in its interim report for 1
January-30 June 2014, which was published on 24 July 2014, that the Company will
continue and enhance the efficiency measures taken to improve the performance of
the Russian wholesale business during the second half of the year. Further to
previously mentioned measures, the Company has also nominated a financial
advisor to investigate the conditions for selling the Company's Russian
businesses and conducted negotiations in the matter. No decision has been made
on the sale of the businesses, and there is no certainty regarding the
completion of any possible sale. In addition to the ongoing initiatives to
develop Company's Russian businesses, the Company will also continue to
investigate other strategic alternatives and will publish further information on
the matter if the situation so warrants.
Oriola-KD Corporation
Tuomas Itkonen
CFO
For further information, please contact:
Tuomas Itkonen
CFO
Mobile +358 40 596 4004
email: tuomas.itkonen@oriola-kd.com
Eero Hautaniemi
President & CEO
Mobile +358 50 429 2109
email: eero.hautaniemi@oriola-kd.com
Distribution
NASDAQ OMX Helsinki Ltd.
Key media
Released by:
Oriola-KD Corporation
Corporate Communications
Orionintie 5
FI-02200 Espoo, Finland
www.oriola-kd.com
[HUG#1862103]