Mowi acquires Lofoten Aqua; Former CEO Alf-Helge Aarskog to leave board

Published on
May 21, 2021

Ahead of its annual general meeting on 9 June, 2021, Mowi ASA has confirmed that it has completed the acquisition of 100 percent of the shares in Lofoten Aqua AS, a fellow Norwegian salmon farmer.

According to Bergen-headquartered Mowi, Lofoten Aqua's only asset is a farming license.

“Mowi ASA considers a merger of Lofoten Aqua AS into Mowi ASA as the best solution to integrate the business in Lofoten Aqua AS into the business in Mowi Group,” it advised its shareholders.

Based on this, the boards of directors of the two companies have prepared and signed a joint merger plan.

Meanwhile, former Mowi CEO Alf-Helge Aarskog, who stepped down in November 2019, has informed the group’s nomination committee that he wishes to resign from his position as a board member effective from the general meeting.

The nomination committee has backed the reelection of current board members Ole-Eirik Lerøy, Kristian Melhuus, and Lisbet K. Nærø, who are each running for two-year terms. The committee also backed the nomination of Ole-Eirik Lerøy as chairperson and Kristian Melhuus as deputy chairperson. In addition, it proposed Nicholays Gheysens as a new board member, and Kathrine Fredriksen’s nomination as personal deputy board member for Cecilie Fredriksen for a term of two years.

Gheysens is a director and member of the investment team at Groupe Bruxelles Lambert SA (GBL), a Belgian holding company listed on Euronext Brussels, while Fredriksen is currently employed by Seatankers Services (UK) LLP and serves as director of SFL Corporation Ltd, Norwegian Property ASA and Axactor SE.

Mowi posted first-quarter 2021 operational earnings before interest and taxes (EBIT) of EUR 109 million (USD 133.2 million) – flat compared to the corresponding period of last year, but with higher operational revenues, reaching more than EUR 1 billion (USD 1.2 billion). Its total harvest for the period increased by 51 percent to 125,468 metric tons (MT) gutted weight.

Photo courtesy of Mowi

Contributing Editor reporting from London, UK

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