July 10, 2017 / 8:27 AM / 4 months ago

Orkla seeks "attractive assets" to buy after Sapa sale

OSLO, July 10 (Reuters) - Norwegian consumer goods maker Orkla’s Chief Executive Peter Ruzicka made the following statements after announcing the sale of the company’s stake in Sapa:

** “Our first priority is to find attractive assets to buy, that fit our strategy.”

** “We want to remain an investment-grade company.”

** Adds that for Orkla to remain an investment-grade firm, the debt can at the most amount to 2.5-3 times the company’s EBITDA

** Says Orkla will be “far below” that hurdle even after paying a special dividend from the Sapa sale (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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