Witzøe move into Måsøval sparks bid speculation

The private Norwegian investment company Kverva, owned by the Witzøe family, which in turn owns SalMar, is reported to have bought a sizeable stake in Måsøval, according to a report by the Norwegian newspaper Dagens Næringsliv.

This is thought to have made Kverva the second largest stakeholder in Måsøval, with just over 8% of the shares.

Kverva was established in 1991 as a holding company for the ownership of SalMar ASA, which is now a publicly listed company with Kverva as the largest shareholder. 

Salmon company watchers in Norway are saying that with SalMar keen to expand its business, the move may be a prelude to an outright bid later this year.

There was a similar report from the financial news platform Finansavisen last week.

The largest owner of the salmon company Måsøval is the Måsøval family from Frøya, via the company Heimstø, which holds 70% of the shares.

Måsøval, which in turn owns a controlling 55%-plus stake in the Icelandic company Kaldvik, announced last month that it was considering a sale of the business. It has a market value of at least 2.8 billion kroner (£217 million).

The company’s CEO, Helge Kvalvik, also announced his resignation at the same time, while the company’s share value has risen.

The news is thought to have sparked a lot of interest from larger rivals such as SalMar, Mowi and possibly Lerøy.

Meanwhile Måsøval recently reported a first quarter harvest of 4,712 metric tons, 513 tons lower than a year earlier.