Cermaq, Morpol owner jockey for Marine Farms

By

SeafoodSource staff

Published on
September 13, 2010

Cermaq ASA on Tuesday announced that it acquired an additional 9.7 million shares in Marine Farms ASA — for NOK 177 million (USD 28.9 million, EUR 22.5 million), or NOK 18.25 per share, from Nireus.

Cermaq — which is now Marine Farms’ largest shareholder, controlling 42.6 percent of the Norwegian company — said in a press release that it intends to buy Marine Farms outright. The parent of Mainstream already held 5.9 million shares in Marine Farms, or 16.2 percent, before it purchased an additional 26.4 percent.

However, the Norwegian website DN.no reported that Friendmall Ltd. purchased 12.1 million shares in Marine Farms from Greek sea bass and sea bream producer Nireus and thereby controls nearly 33 percent of the company. Friendmall is Morpol’s largest shareholder, holding nearly 48 percent of the Polish salmon-processing company’s shares.

Marine Farms operates salmon farms in Scotland through its Lakeland subsidiary, sea bass and sea bream farms in Spain through its Culmarex subsidiary, as well as cobia farms in Vietnam. Late last month, Marine Farms announced that it’s selling its cobia-farming operation in Belize.

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