Cermaq to sell Artic Seafood Holdings to SalMar – Fishupdate.com

Cermaq to sell Artic Seafood Holdings to SalMar Published:  06 November, 2007

CERMAQ and SalMar have entered into a letter of intent providing for the resale of Artic Seafood Holding AS’ operations in Troms county in Norway to SalMar.

The announcement comes following notification to the stock exchange on October 29 regarding acceptance of Cermaq’s conditional offer to acquire 100 percent of the shares in Artic Seafood Holding AS.

The farming operations in Troms are organised through the company Artic Salmon AS which holds four licences.

The letter of intent is conditional upon due diligence and a final agreement between SalMar ASA and Cermaq ASA.

SalMar is one of the world’s largest salmon producers. The company has 46 wholly-owned ordinary licences for marine production of Atlantic salmon in Norway; 37 licences in SalMar Farming AS located in the company’s principal producing region in Mid-Norway (Trøndelag, Nord-Møre) and 9 licences in Troms through SalMar’s wholly owned subsidiary Senja Sjøfarm AS.

In addition, SalMar owns 50% of Norskott Havbruk AS, which owns 100% of Scottish Sea Farms Ltd. Scottish Sea Farms is Great Britain’s second-largest salmon farmer with production capacity in excess of 30,000 tonnes gutted weight.

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