Oriflame founders buy back company following shareholder approval

Oriflame founders buy back company following shareholder approval

Oriflame founders the af Jochnick family have bought back the company following approval from the other owners, which represent 60.5 percent of shares.

The shareholders accepted the bid during the initial acceptance period, with the af Jochnick family, which already owns 31 percent of the company, offering 9 billion crown back in May.

The family made a statement via Walnut Bidco, a company it owns, declaring all conditions for completion of the offer had been fulfilled and declared. The offer values Oriflame at 13 billion crowns.

The initial bid was supported by a committee of board members not including the family, declaring the uncertain future for the company following worrying conditions in key markets.



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