Mowi enters into a Share Purchase Agreement to purchase K. Strømmen Lakseoppdrett AS


July 19, 2019 Facebook Twitter LinkedIn Google+ Aquaculture News,News-Global



Mowi is pleased to announce that we have entered into a Share Purchase Agreement to purchase 100% 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 our position in an area already core to Mowi Region Mid, and supports our long-term strategy of being a world leading and integrated producer of seafood proteins.

The acquisition price on a cash and debt free basis is NOK 790 million. 30% of the purchase price will be settled through issuing new Mowi shares and 70% 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