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Cermaq Sells Shares in Defona - Focus on Aquaculture

Lucy Towers
29 May 2013, at 1:00am

NORWAY - Cermaq is selling its shares in Denofa, a soybean processing company, as part of its strategy to divest companies which are not part of the core business. The sale will allow Cermaq to concentrate on its engagement on aquaculture.

Cermaq’s subsidiary Norgrain AS, where Cermaq holds 72.5 per cent of the shares, has declared its option so sell its shareholding of 49 per cent of the shares in Denofa AS to Amaggi.

The Brazilian company Amaggi will thereafter own all shares in Denofa.

The sale is a part of Cermaq’s strategy to divest companies which are not part of its core business and concentrate its engagement on aquaculture.

The transaction will be implemented in September 2013, and give Norgrain an income from sales of UDS 16.3 million.

The sales will result in a profit in Cermaq’s accounts of approximately NOK 7 million.