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Aquaculture

SÍLDARVINNSLAN PURCHASES MAJORITY SHARE IN AQUACULTURE BUSINESS

Síldarvinnslan purchases majority share in aquaculture business

Icelandic fishing and processing company Síldarvinnslan hf. has made an agreement with Bremesco Holding Limited and a group of other shareholders to purchase their accumulated shares of 10,899,684 or 34.2% in Arctic Fish Holding AS. The total purchase price is NOK 1,089,968,400.- and the purchase price will be paid in cash which will partly be financed with loan capital.

Arctic Fish Holding AS is a registered on the Euronext Growth market in Oslo and the company owns 100% shares in Arctic Fish ehf. which is one of the leading salmon farming companies in Iceland and operates in the Wesfjords, Iceland, where the company has existing fish farming licences of 27,100 tonnes.

Gunnþór Ingvason, CEO of Síldarvinnslan hf, saidSalmon farming is a growing industry in Iceland which we have been monitoring for a long period of time. Capital and knowledge has been increasing in the industry and we are of the opinion that there are ample opportunities.

“We are purchasing a over a third part in the company, which is in a majority ownership of a Norwegian aquaculture company with extensive knowledge and experience in the field and we are pleased to have the opportunity to work with the current shareholders in the further growth of the company.

“The company has been investing and growing in the last years and has ambitious plans for the future. We see opportunities for the co-operation of aquaculture companies in the area.“

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