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Mowi to purchase shares in K Strømmen Lakseoppdrett AS

19 July 2019, at 9:25am

Mowi is pleased to announce that they have entered into a Share Purchase Agreement to purchase 100 percent of the shares in K Strømmen Lakseoppdrett AS.

K Strømmen Lakseoppdrett AS is a Norwegian salmon farming company with four licenses, each with a maximum allowed biomass of 780 tonnes, for sea-based salmon production in Bremanger municipality, Sogn og Fjordane. The potential acquisition strengthens Mowi's position in an area already core to Mowi Region Mid, and supports their long-term strategy of being a world leading and integrated producer of seafood proteins.

The potential acquisition will strengthen Mowi's strategic position in the sector
The potential acquisition will strengthen Mowi's strategic position in the sector

© Mowi

The acquisition price on a cash and debt free basis is NOK 790 million. 30 percent of the purchase price will be settled through issuing new Mowi shares and 70 percent of the purchase price will be settled in cash. The subscription price for the consideration shares will equal the volume weighted average trading price of the shares in Mowi on the five business days prior to the closing date.

The transaction is subject to approval by the Norwegian competition authorities and customary closing conditions.