Oslo, Nov. 21 - Norwegian conglomerate Orkla's chairman and top shareholder Stein Erik Hagen lifted his stake in the group to 21.9 percent from 21.6 percent, adding to his holdings for a second time in five days, Orkla said on Wednesday.
A company closely associated with Hagen bought about 2.6 million Orkla shares at an average price of 94.54 Norwegian crowns ($17.48) per share on Tuesday.
The deal worth about $45.54 million came just four days after a Hagen company bought 4.9 million Orkla shares at an average price of 96.59 crowns.
After the purchases on Tuesday, Hagen and his close associates own 226.9 million Orkla shares, Orkla ASA, the food-to-metals group, said in a statement.
Since Hagen and associates own more than 20 percent of Orkla's stock, his holding company Canica AS must apply for permission from the relevant concession authorities, Orkla said.
Hagen, who made his fortune with a chain of supermarkets, became Orkla's biggest owner after selling the chain in 2004. He became Orkla chairman in 2006.