The alcohol company Altia and Arcus have signed a merger agreement to form the leading Nordic brand house for wines and spirits.

The new merged company will be called Anora Group.

According to Altia's press release, the combined company's preliminary combined annual turnover will be EUR 640 million in 2019. Anora will employ approximately 1,100 professionals in the Nordic and Baltic countries.

The listing of Anora's shares on the Helsinki Stock Exchange will continue, and the aim is to temporarily list them in parallel on the Oslo Stock Exchange, the press release says.

The merger will take the form of a legal cross-border absorption merger, in which Arcus will merge with Altia and dissolve.

Arcus shareholders will receive 0.4618 new Altia shares for each Arcus share they own, ie after the merger, Altia's shareholders will hold 53.5 percent and Arcus shareholders 46.5 percent.

Altia's and Arcus' largest shareholders support the merger and have committed to it in advance, the release says.

According to Altia, according to current information, extraordinary general meetings are scheduled for November, and the implementation of the merger is expected to take place during the first half of next year.