Ekornes QM Holding AS (the Company) today announces the acquisition ofHuatai Securities' 9.5% shareholding inEkornes Holding AS forNOK 741 million . Following the transactionEkornes QM Holding AS controls all shares inEkornes Holding AS . The transaction will be funded within existing credit facilities. The transaction is according to terms outlined in the shareholders agreement betweenQumei Holding andHuatai Securities in connection with the purchase of Ekornes ASA inAugust 2018 . "Huatai has been a good partner and we appreciate the constructive collaboration during these three years of joint ownership. It is with great expectations and enthusiasm we now continue a sole owner ofEkornes Holding , and we look forward to continuing the development of Ekornes and its strong brands", saysRuihai Zhao , chairman of the board inEkornes QM Holding . For more information, please contact:Roger Lunde , CEOEkornes AS roger.lunde@ekornes.com Tel: +47 454 11 558 Fredrik Ødegård Nilsen, CFO Ekornes AS fon@ekornes.com Tel: +47 480 90 096 About Ekornes QM Holding GroupEkornes QM Holding AS was founded4 January 2018 with the purpose of acquiring theEkornes Group . The share purchase was completed inAugust 2018 and the Group was delisted from theOslo Stock Exchange inOctober 2018 .The Ekornes Group is owned throughEkornes Holding AS . The Norwegian ultimate parent companyEkornes QM Holding AS , a wholly owned subsidiary ofQumei Home Furnishing Group , owns all shares inEkornes Holding AS .The Ekornes Group is the only operational part of theEkornes QM Holding Group . Ekornes is the largest furniture producer inNorway and owns the brand names Ekornes®, Stressless®, Svane® and IMG. Stressless® is one of the world's most well-known furniture brands. Production takes place at the Group's ten factories, five of which are inNorway , one in theUSA , one inThailand , one inLithuania and two inVietnam . Ekornes sells its products over large parts of the world, either through its own sales companies or via importers. This information is subject to the disclosure requirements according to §5-12 in the Norwegian Securities Trading Act.
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