Weifa ASA (OB:WEIFA) entered into an agreement to acquire Cederroth AB from Orkla ASA (OB:ORK) for approximately NOK 120 million.

Weifa ASA (OB:WEIFA) entered into an agreement to acquire Cederroth AB from Orkla ASA (OB:ORK) for approximately NOK 120 million on December 17, 2015. As reported, Weifa will effect a private placement of new shares directed towards Norwegian and international investors to finance the transaction. Weifa ASA raised NOK 118.5 million on December 18, 2015.

The transaction, which is subject to customary closing conditions including obtaining antitrust approvals, is expected to close in January 2016. The transaction is expected to be accretive on Weifa's net profit from the first year of operation. Alpha Corporate Finance acted as the exclusive financial advisor to Orkla ASA.

Carnegie acted as financial advisor to Weifa.