Ukrainian chocolate maker Roshen has denied reports that it is set to sell the company to Norwegian group Orkla.
It said that the report from Russian news site Xpinform.ru was “groundless”.
Roshen claimed that story’s lead source, a representative from Renaissance Capital (Ренесанс Капітал), did not even work for the firm and denied that Xpinform.ru had contacted Roshen’s press service as it had alleged.
Roshen is headquartered in Kyiv, Ukraine and operates two factories in Ukraine, two in Russia and one in Lithuania. It also owns a facility in Hungary through its Bonbonetti subsidiary.
Orkla established its Russian business Orkla Brands Russia in February 2011 after merging former Soviet facility, OJSC Confectionery factory and OJSC "Confectionary Group "SladCo".