Cermaq demands £17m plus back from Grieg
Grieg Seafood revealed today that it has received a claim of NOK 185 million (£14.3m) and 6.6 million Canadian dollars (£3.6m) over the sale of its Finnmark Norway and Canadian businesses to Cermaq late last year.
Grieg made the revelation in an Oslo Stock Exchange announcement. It has rejected the demand.
It said: “The company has received a formal notification of claim from Cermaq under the share purchase agreement entered into in connection with the transaction.
“The claim relates to settlement of certain financial and commercial matters for the period between the locked box date and closing date, with a total indicated quantum of approximately NOK 185 million and CAD 6.6 million.
“A part of the claim appears to be based on a misunderstanding of the technical settlement in connection with the closing of the transaction and has been accounted for in the company’s Q4 report.”
Grieg added: “As regards the remaining elements of the claim, the company rejects these and considers them to be without merit.”
The Grieg-Cermaq deal was formally completed just after Christmas last year.
Grieg Seafood CEO Nina Willumsen said the claim will have no impact on the dividend as reported on 25 February 2026.
Following completion of the transaction with Cermaq Group AS, Grieg is now concentrating on a smaller operation with farms located in Rogaland, as well as cutting workforce numbers at its headquarters in Bergen.
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