Cermaq sells stake in soy producer


SeafoodSource staff

Published on
May 27, 2013

Cermaq subsidiary Norgrain on Tuesday announced it will sell its 49 percent shareholding in Norwegian soy products producer Denofa, to Brazilian group Amaggi for USD 16.3 million (EUR 12.6 million).

The sale is part of Cermaq’s strategy to divest companies that are not part of its core business to concentrate on aquaculture.

The transaction will be complete in September, and Amaggi will own all of the shares of Denofa.

Cermaq holds 72.5 percent of the shares in Norgrain, so the sale will result in a profit on Cermaq’s accounts of NOK 7 million (USD 5.7 million, EUR 4.4 million).

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