Investment holding company Groupe Bruxelles Lambert SA (GBL), through its wholly-owned subsidiary Owen Capital Sàrl, has sold roughly 18.1 million of its ordinary shares in Bergen, Norway-headquartered salmon-farming company Mowi ASA.
GBL announced it was launching an accelerated bookbuilding process with immediate effect to institutional investors on 21 June, 2022. The offering corresponded to approximately 3.5 percent of Mowi’s share capital. The company then announced on 22 June that it had successfully sold the shares at a price of NOK 222 (USD 22.28, EUR 21.13) per share, or approximately EUR 400 million (USD 421 million) in proceeds.
This transaction represents the sale of approximately 50 percent of GBL’s stake in Mowi, and is according to the company part of its ongoing portfolio rotation strategy.
The company has retained roughly 18.1 million shares in Mowi, bringing its total holdings in the company to 3.5 percent of Mowi’s total capital and voting rights. According to GBL, the sale “generated a capital gain” of EUR 100 million (USD 105 million).
GBL has committed to a lock-up agreement related to its current Mowi shares, which it said it expects to end after a period of 90 calendar days from the settlement date, subject to certain exceptions or waiver by the bookrunner.
Goldman Sachs Bank Europe SE is acting as sole bookrunner of the transaction.
Photo courtesy of Mowi
