Marine Harvest sells off shares in Grieg, makes tidy profit
Marine Harvest ASA has sold off all the shares in fellow Norwegian salmon farming company Grieg Seafood ASA that it agreed to purchase less than three months ago.
On 26 February, Marine Harvest entered into a set of forward contracts to purchase 28,826,736 shares in Grieg for NOK 22 (USD 2.64, EUR 2.35) per share from the banks DNB and Nordea.
The acquisition of those shares went through on 18 May. Following the transaction, Marine Harvest announced on 19 May that it had sold all those shares, representing 25.82 percent of the issued shares in Grieg Seafood, at a price of NOK 39.75 (USD 4.76, EUR 4.24) per share.
On completion of the transaction, Marine Harvest will hold no shares in Grieg.