Norwegian salmon-farming company Salmar has entered into an agreement to acquire 70 percent of Måsøval in a deal worth NOK 3.4 billion (USD 348 million, EUR 304 million).
SalMar announced on the Oslo Børs that it will acquire 85,727,553 shares of Måsøval from Heimstø, giving it 70 percent of the existing 122,508,455 shares outstanding on 8 July. The purchase price will be at NOK 39.50 (USD 4.04, EUR 3.53) per share, and the consideration will also comprise 733,906 shares of SalMar, representing 10 percent of the total purchase price.
“We believe this represents an exciting industrial opportunity that will strengthen SalMar's position in Central Norway, one of our most important core regions for aquaculture,” SalMar CEO Frode Arntsen said. “Måsøval is a historically well-established and well-managed company with strong roots in the region, and its operations are a good fit with SalMar's existing activities. The companies share common roots on Frøya, and we see significant potential for further development. The transaction is, though, subject to the necessary regulatory approvals and other customary conditions, and we are now commencing these processes."
As part of the agreement, Heimstø retains the right to sell the SalMar shares back to the company at any point in the next 12 months for the same value as the basis price: NOK 461.40 (USD 47.24, EUR 41.34) per share.
If the transaction clears regulatory hurdles, SalMar will ensure minority shareholders in Måsøval can realize their shares in the company at the same base price of NOK 39.50.
The deal comes just days after Måsøval resolved a dispute between it and its subsidiary Pure Norwegian Seafood (PNS) over the sale of frozen salmon, which saw it sell the subsidiary to Nordic Halibut for an undisclosed amount.
It also comes days after Måsøval issued a Q2 harvest update indicating it has seen higher harvest totals so far in 2026. The positive trajectory resulted in it revising its harvest totals again, increasing it to an estimated 29,000 gutted weight tons for the year.
