NTS rebels in new board takeover bid

The NTS aquaculture group saga took a new twist over the weekend with the news that another attempt is being made to reshape the company’s board of directors.

A rebel band of shareholders known as the Rørvik group, which failed to take over NTS and oust its founder Helge Gåsø, his son Ander and the chairman Odd Reidar Øie 10 days ago, have called a second extraordinary general meeting (EGM).

An Oslo Stock Exchange announcement says the EGM is due to be held on 18 February and the same people are behind the demand.

They include Nils Williksen AS, Terboli Invest AS and Rodo Invest AS and they are expected to present their proposals in detail at least a week before the meeting.

NTS is also the subject of a NOK 13.8bn bid by the salmon giant Mowi. The industry is also waiting for a counter-offer from SalMar.

But so far the company has remained silent apart, from a casual comment from SalMar boss Gustav Witzøe to a Norwegian news website last week that a merger with Norway Royal Salmon and his farming business would make a good match.

Meanwhile, Gåsø said the rebel group would seriously damage NTS if they succeed with their plan, because they would break up the business and sell NRS to the highest bidder.

NTS began life as a transport company before moving into fish farming about 14 years ago. It has grown rapidly in the past year following the acquisition of NRS and SalmoNor which are due to be merged.

SalMar owner and CEO Gustav Witzøe