Major Marine Harvest shareholders Geveran Trading and Framar have struck a deal allowing Framar to purchase a million shares of the salmon farming company between April 2017 and October 2018.
Geveran is controlled by John Fredriksen, who owns almost 80 million shares of Marine Harvest – representing more than 17 percent of the company.
Framar is owned by Marine Harvest Chairman Ole-Eirik Lerøy. Framar currently owns more than three million shares of Marine Harvest, representing almost half a percent of the firm.
The deal gives Framar the option to purchase a million shares of Marine Harvest at a price of NOK 163.94 (USD 19.82, EUR 18.25) once between 24 April, 2017 and 24 October, 2018. The deal also adds a five percent annual interest component until the deal reaches maturity.
Shares of Marine Harvest, which trades of the Oslo and New York stock exchanges, were trading around NOK 151 (USD 18.24, EUR 16.80) on Tuesday, 25 October.
Fredriksen is a shipping and oil billionaire who has suffered significant losses with the global drop in crude oil prices over the past year, according to Bloomberg.
Lerøy, the founder and former CEO of Lerøy Seafood Group, has served as chairman of the board of Marine Harvest since 2010.
