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Kverneland acquired by Kubota

The Japanese firm Kubota has acquired the Norwegian farm machinery manufacturer Kverneland, by bying 30 per cent of the shares from majority owner Jens Ulltveit-Moe.

Kubota has paid NOK 10.50 per share, and has offered to pay the same for the rest of the Kverneland shares, NRK reports. This would be equal to NOK 1.6 billion.

Kverneland has companies in 19 countries, exports to 60 nations and has around 2000 employees globally.

(NRK)


Written by Rolleiv Solholm

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