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Norwegian Government Approves Lery Acquisition of Havfisk, Norway Seafoods

Lucy Towers
26 August 2016, at 1:00am

NORWAY - The Norwegian Ministry of Trade, Industry and Fisheries has approved Lery Seafood Group's acquisition of shares in Havfisk and Norway Seafoods.

Lerøy is to acquire 63.21 per cent ownership of Havfisk for NOK 36.50 per share and 73.63 per cent ownership of Norway Seafoods Group for NOK 1.0 per share.

Lerøy now awaits approval from the relevant competition authorities before completing the transactions.

A completion of the sale of Havfisk will trigger a mandatory offer for the remaining shares in Havfisk at NOK 36.50 per share.

Assuming completion of the transaction, Lerøy also intends to make an offer for the remaining shares in Norway Seafoods at NOK 1.0 per share.