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Marine Harvest Looks Ahead

Salmonids Economics +2 more

NORWAY - After terminating the Cermaq acquisition process, Marine Harvest says it will focus on developing green field feed capacity in Norway, expansion in Norway and Chile and the integration of Morpol.

Further to the termination of the Cermaq process Marine Harvest has successfully completed the divestment of its remaining holding in Cermaq. The total holding, which constituted 5,053,544 shares, was sold at an average price of NOK 105.6 per share and provided a total gain of NOK133.5 million.

Marine Harvest will, in line with what it has communicated earlier, focus its resources on the development of green field feed capacity in Norway, expansion within Norwegian and Chilean farming as well as the forthcoming integration of Morpol.

The increased financial flexibility created by the sale of the Cermaq shares, termination of the transaction and the current strong salmon prices is likely to lead to a reintroduction of a quarterly dividend payments commencing from Q2 reporting.