Finland's alcoholic beverage producer Altia merges with Norway's Arcus

HELSINKI, Sept. 29 (Xinhua) -- Finland's alcoholic beverage producer Altia announced on Tuesday its merger with Arcus ASA, Norway's largest wholesaler of wine and liquor. The new entity will be called Anora Group.

Altia is owned 36 percent by the Finnish state and became publicly listed in 2018. The main owner of Norway's Arcus is investment company Canica. In the new Anora Group, the state of Finland will have a 19.4-percent stake, while Canica will have 22.4 percent, according to a press release issued by Altia.