Kverneland sets put option for bonds following change of control

By Tali David

Minneapolis, March 13 - Kverneland ASA set a put option for its Norwegian krone- and Swedish krona-denominated bonds due 2012, according to a notice from trustee Norsk Tillitsmann ASA.

Kverneland notified Norsk that a change of control event occurred when Kubota Norway Holding AS obtained 78.95% ownership of the company's shares.

The put option must be exercised by May 13. The redemption price will be par plus accrued interest.

The Kverneland, Norway-based company develops, manufactures and sells machinery, equipment and related services for agriculture.

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