Mitsubishi to settle Cermaq buyout
Mitsubishi Corp. has announced it is satisfied all conditions are met for its purchase of Norwegian fish farmer Cermaq for approximately NOK 8.9 million (USD 1.4 million, EUR 1.1 million).
Mitsubishi made the initial offer in September, and within a month more than 90 percent of shareholders, including the Norwegian government, CEO Jon Hindar and members of the company’s board of directors announced they would sell to Mitsubishi.
Mitsubishi said it expects to settle the offer in two weeks. As to remaining shareholders, “(Mitsubishi) will initiate a compulsory acquisition of the remaining outstanding shares of the company.”