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Bigger Bite: Austevoll's Offer for LSG

by Ellen Hardy
15 October 2008, at 1:00am

NORWAY - Having purchased 4,500 shares in LSG at a price of NOK 59.00 per share, Austevoll Seafood is now looking at aquiring the entire company.

AUSS has now acquired an additional 5.398.842 shares in LSG at a price of NOK 59.00 pershare. AUSS now owns a total of 23.263.642 shares representing 43,42 % of the share capital LSG.

AUSS say they will put forward a mandatory offer for the remaining shares in LSG at a price of NOK 59.00 per share. The offer to the shareholders of LSG will be sent at the latest on 22 October, in compliance with the time limit of 4 weeks set out in the Act.

AUSS have said it is their clear aim and intention to contribute to the development of LSG through further consolidation in the industry.

AUSS believes that LSG with its local presence and unique global sales distribution is well positioned to participate in the development of the salmon industry. AUSS intends to build on the existing management and local presence of LSG to further develop the company as a leading participant in this industry.

Ellen Hardy