ABGSC acted as financial advisor to Arcus ASA (“Arcus”) in the combination with Altia Plc (“Altia”)

On 29 September 2020, The Board of Directors in Altia and Arcus jointly announced that the two companies have entered into a combination agreement to form a leading Nordic wine and spirits brand house. The new combined company (the “Combined Company”) will be named Anora Group Plc (“Anora”).
Anora will offer a unique portfolio of iconic local, regional, and global brands. The Combined Company’s aggregated revenue is more than NOK 7bn (based on 2019 figures), and Anora employs approximately 1,100 professionals around the Nordics and Baltics. Anora will have a strong foothold in the Nordic markets making it an attractive partner with its superior pan-Nordic route-to-market. With a solid combined cash flow, Anora is well positioned for stronger international expansion.
Under the financial terms of the transaction, the shareholders in Arcus will receive 0.4618 new shares in Altia for each share in Arcus they own at the record date to be set in connection with the Merger, resulting in an aggregate ownership in the Combined Company following completion of 53.5% for Altia and 46.5% for Arcus shareholders. The combined market capitalisation for the companies based on 28 September closing prices is approximately NOK 6bn.
ABGSC has held a long-term client relationship with Arcus, underpinned by the role as Joint Global Coordinator in the 2016 IPO of the Company.