Norway offers to up stake in Cermaq
The Norwegian Ministry of Trade has initiated the process of potentially purchasing additional shares in Cermaq. The move would increase its stake in the Norwegian salmon producer to 65 percent.
The ministry aims to purchase up to 10.75 million shares, about 11.6 percent of the outstanding shares in Cermaq.
All shareholders are invited to bid for the sale of all or part of their stake. The process will be conducted as a “reverse Dutch auction,” where the auctioneer receives offers for sale of shares. The auction will start 20 June and will remain open until 24 June, unless a notice of extension is given.
Al shareholders of Cermaq are invited to submit any offer to Handelsbanken Capital Markets, acting broker for the ministry.
The number of shares to be purchased may be increased to 19.8 million shares, representing about 21.6 percent of the total outstanding shares.