Gåsø owned company pulls out of deal with Måsøval

The two companies signed up to the deal in 2022 regarding the operation of Frøy Havbruk’s licensed biomass volume of 2,433 tons (MAB).

Since then, the parties have managed operations by co-locating Frøy Havbruk’s licensed volume at Måsøval’s sites in Production Area 6 (PO6).

Value creation from the production is shared via a profit-sharing model between Frøy Havbruk, as the license holder, and Måsøval, as the operator.

The Oslo Stock Exchange announcement said a total of 2,915 gross weight tons (GWT) was harvested from Frøy Havbruk’s licenses in 2024, while 3,723 GWT was harvested in 2025.

“Frøy Havbruk has now terminated the co-location agreement,” the statement confirmed.

“The agreement between the parties also governs the period following termination; the notice period extends until all fish currently at Måsøval’s sites have been harvested, with a maximum period of 18 months before Frøy Havbruk can withdraw its licences.

“The final batch of smolt for Frøy’s licenses was stocked at the Heggeset site in week 36.”

Måsøval itself is due to become part of the SalMar group, with which Gaso had a long financial battle some years ago when it acquired his Norway Royal Salmon and NTS salmon businesses.

Frøy Havbruk is owned by Helge Gåsø through his investment company Frøy Kapital which owns 100% of the farming company.

There is no suggestion at the moment that the former feud is being reignited.