Bergen, Norway-headquartered salmon-farming firm Mowi has entered into an agreement to acquire a 46 percent share of Nova Sea from its parent company Vigner Olaisen, with the deal expected to be completed in the second half of 2025.
Under the terms of the transaction, Mowi will pay NOK 7.4 billion (USD 654.9 million, EUR 629.1 million) for Vigner Olaisen’s stake in the Lovund-headquartered salmon producer, thus giving Mowi 95 percent ownership of Nova Sea overall.
More specifically, this will be conducted through a 30 percent settlement in new Mowi shares and 70 percent in cash, with the cash element financed through existing credit lines.
The transaction values 100 percent of the equity in Nova Sea at NOK 16 billion (USD 1.42 billion, EUR 1.36 billion). As such, a voluntary cash offer will be made to the remaining 5 percent shareholders, estimated to total NOK 800 million (USD 70.8 million, EUR 68 million).
Mowi, which has been a minority owner in Nova Sea since 1995 and currently holds a 49 percent share, said it believes the acquisition will enable the two companies to leverage a strong joint position, with the aim to further improve biological performance and fish health.
Nova Sea’s salmon farming in Production Area 8 of Northern Norway covers the entire value chain from broodstock and smolt production to harvesting and sales. The company expects to harvest 52,000 metric tons (MT) of fish this year
Announcing the acquisition, Mowi CEO Ivan Vindheim described Nova Sea as …
