By SeafoodSource staff
Published on Thursday, October 20 2011
Norway Royal Salmon has agreed to sell all its shares in Larssen Seafood to Kvaroy Fiskeoppdrett for NOK 24.1 million, according to a notice on the Oslo Stock Exchange on Thursday. The salmon-farming company held a 48 percent interest in Larssen.
The transaction is subject to due diligence and is scheduled to be completed on 15 November.
Norway Royal Salmon said it is narrowing its focus on three production areas, and Larssen is not located in these areas. The company controls a total of 25 fish-farming licenses through four subsidiaries and has minority stakes in four other fish-farming companies, with a total of nine licenses as well as minority interests in two slaughterhouses and two smolt producers.