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Cermaq Acquires Share In Marine Farms

NORWAY - After purchasing a further 26.4 per cent of the shares in Marine Harvest ASA, Cermaq ASA now controls 42.6 per cent of the company.

Cermaq bought the Marine Farms share at a price of NOK 18,25 per share.

Cermaq has held 16.2 per cent, of Norwegian company Marine Harvest since 2004.

The Scottish operation in salmon farming of Marine Farms Lakeland has delivered good results and has an estimated sale of 12,000 tonnes for 2010. Additionally, Marine Farms has interesting activities in Seabass/Seabream through Culmarex as well as emerging operations in Cobia farming with the main activities in Viet Nam.

Cermaq has acquired totally 9.7 million shares corresponding to 26.4 per cent of the shares in Marine Farms for a total of NOK 177 million. This corresponds to a price per share of NOK 18.25. Cermaq already holds 5,929,862 shares, corresponding to 16.2 per cent of the shares in Marine Farms, and through this transaction Cermaq is the largest shareholder in the company holding a total of 42.6 per cent of the shares in Marine Farms.

the Fish Site Editor

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