Norwegian salmon-farming company SalMar has purchased Aker Capital’s 15 percent ownership stake of offshore aquaculture company SalMar Aker Ocean, becoming the company’s sole owner.
The deal, SalMar said in a post on the Oslo Børs, consists of 1 million SalMar shares and a cash consideration of NOK 76 million (USD 6.9 million, EUR 6.4 million). A single share of SalMar, as of 6 March, is worth NOK 537 (USD 49.30, EUR 45.73), making the total deal worth NOK 613 million (USD 56 million, EUR 52 million).
According to a release from SalMar, the transaction values Salmar Aker Ocean at NOK 4.33 billion (USD 397 million, EUR 368 million).
“Offshore aquaculture offers promising growth opportunities both domestically and globally,” SalMar said. “Following extensive evaluations and discussions, the two partners, SalMar and Aker, have concluded that the technological development and opportunities for offshore/semi-offshore aquaculture, both within and outside Norway, can be more effectively managed as an integrated part of the SalMar group.”
As part of the transaction, SalMar Aker Ocean CEO Roy Reite and CFO Trine Sæther Romuld both stepped down as its leadership to allow leadership at SalMar to take over.
“Anders Fjellheim will become the new managing director of the company,” SalMar said.
Salmer Aker Ocean launched in 2021 when SalMar and Aker established a joint company devoted to establishing offshore fish-farming operations in Norwegian waters. At the time, SalMar and Aker – through wholly owned subsidiary Aker Capital – would own 66.6 percent and 33.4 percent of the new company, respectively.
Since that time, SalMar Aker Ocean became part of a series of deals involving SalMar and its merger with Norway Royal Salmon, along with SalMar’s acquisition of NTS in 2022. One of the results of those transactions was SalMar Aker Ocean absorbing 100 percent of the shares of Arctic Offshore Farming, which it acquired from SalMar.
The company’s offshore aquaculture project obtained approvals from Norwegian authorities in September 2023.
