A €20 million fine against Marine Harvest has been upheld by the European General Court. The fine was imposed by the European Commission over three years ago in relation to the company’s takeover of the Polish salmon firm Morpol in December 2012.
The Commission claimed that the acquisition – which saw Marine Harvest acquire a 48.5 per cent stake in Morpol – went ahead without having received prior authorisation under EU merger regulations.
It also concluded that Marine Harvest should have been aware of its obligations to notify and await clearance from the Commission before proceeding with the deal.
Marine Harvest said on Friday it was disappointed by both the outcome and the fact that its arguments presented to the General Court (EU) had not been accepted.
The company was informed this weekend by the General Court (EU) that the European Commission’s initial decision to fine Marine Harvest €20 million stands.
The company said it will now embark on a judicial review of the judgment and decide whether to go ahead with an appeal to the EU Court of Justice.
If an appeal is lodged, a final non-appeal judgment is expected to be made by the end of 2018. However, Marine Harvest has made provision for a sum of €20 million in its accounts.