Cermaq offloads Denofa AS shares – Fishupdate.com

Cermaq offloads Denofa AS shares Published:  29 May, 2013

IN a bid to “streamline its strategy”, through divesting companies which are not part of its core business and concentrate its engagement on aquaculture, Cermaq has decided to sell most of its shares in the soy producer Denofa AS.

Cermaq’s subsidiary Norgrain AS, where Cermaq holds 72.5 per cent of the shares, has declared its option to sell its shareholding of 49 per cent of the shares in Denofa AS to the Brazilian company Amaggi, which will thereafter own all shares in Denofa.

The transaction will be implemented in September, and give Norgrain an income from sales of UDS 16.3 million. The sales will result in a profit in Cermaq’s accounts of approximately NOK 7 million.