Norwegian-headquartered salmon farming group Mowi has confirmed an agreement to divest its 50-percent stake in wellboat company DESS Aquaculture Shipping to an entity controlled by Antin Infrastructure Partners.
“Mowi has invested EUR 60 million (USD 72.9 million) in DESS Aquaculture Shipping to date and our share of proceeds is EUR 115 million (USD 139.7 million). Mowi will recognise a gain of approximately EUR 55 million (USD 66.8 million) in Financial EBIT in our P&L upon closing,” the company said in a statement.
It had announced in August that it was looking to sell its part of the joint-venture business that was founded in 2016.
The other half of DESS is owned by Norway’s Hemen Holding Ltd.
Based in Paris, London and New York, Antin Infrastructure Partners is an independent private equity firm focused on infrastructure investments in Europe and North America, targeting the energy and environment, telecommunications, transportation and social sectors.
