SALMAR INCREASES SHAREHOLDING IN ICELANDIC SALMON FARMER

SalMar increases shareholding in Icelandic salmon farmer. Norwegian based SalMar has increased its stake in Icelandic salmon farmer Arnalax AS to become a majority shareholder and has made on offer for complete ownership.

Under the deal, SalMar ASA has entered into an agreement to acquire 3,268,670 shares in Arnarlax AS at NOK 55 per share, totalling NOK 179,776,850.

SalMar ASA owns from before 41.95 % of the shares in Arnarlax AS and will by this transaction increase its ownership to 54.23 %.

Arnarlax AS is the largest farmer and producer of salmon on Iceland through its wholly owned subsidiary Arnarlax Hf.

SalMar AS will following the transaction issue an offer to acquire the remaining 12,181,761 shares in the company at approx. NOK 55.50 per share. The chairman of the board of Arnarlax AS, Kjartan Olafsson, has confirmed that he wishes to continue as an owner in Arnarlax AS and will as such not sell shares in response to the offer. Sparebank 1 Markets has acted as financial advisor in the transaction.

Photo Courtesy of SalMar