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SALMAR ACQUIRES 45% OWNERSHIP IN REFSNES LAKS AS

SalMar aquires 45% ownership in Refsnes Laks AS

SalMar aquires 45% ownership in Refsnes Laks AS

SalMar has entered into an agreement to acquire 45% ownership in Refsnes Laks AS through a combination of share purchase and private placement. Refsnes Laks AS currently has four licenses for production of Atlantic salmon and a time limited viewing license in Central Norway, in total 3,932 tonnes MAB. The purchase price for the transaction is NOK 665 million.

Chairman of the board of Refsnes Laks, Ivar Refsnes emphasizes that for many years a close and value-creating collaboration has been developed between SalMar and Refsnes. This applies to production, processing and sales in an international market. SalMar’s acquisition of a significant ownership interest in the company is a natural continuation of this collaboration. It will strengthen the financial basis for the company with its base in Åfjord municipality. This is a good solution for both parties, says Refsnes.

The transaction gives SalMar further sustainable growth in the immediate vicinity of existing fish farming areas in Central Norway and it will be a good industrial solution that ensures significant synergies and further development of existing activity and operational competence.

The completion of the transaction is conditional upon that the Norwegian Competition Authorities does not intervene against the transaction.

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The story of Refsnes Laks

The fish in the sea provided the basis for the Refsnes family from 1918 to build their business on Revsnes. There has been a reception of fish to produce and export both herring, stockfish and clipfish on the small islet that today houses Refsnes salmon’s feed center, administration and Visningshuset to SeeSalmon. We can still see some of the many fish scales that were used to dry fish.

Sustainable production of salmon provides value creation with major ripple effects in Norway and for our coastal community. Aquaculture can help increase the proportion of food from the sea. The UN Marine Panel believes that it is possible to produce six times more food from the sea than we produce today.
Norwegian aquaculture has for 60 years built up efficient technology for producing salmon in the sea. We are all dependent on clean, fresh sea and at Refsnes Laks we are concerned with producing sustainable salmon from the sea for the benefit of all.

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