Norway Royal Salmon ASA: NRS acquires remaining outstanding shares in Nord Senja Laks AS for a cash consideration of NOK 70 million
Norway Royal Salmon ASA ("NRS") has today entered into an agreement with
Botnhamn Fisk AS to acquire 135 shares in Nord Senja Laks AS ("NSL"),
corresponding to 33.3 % of the outstanding shares in NSL for a cash
consideration of NOK 70 million (the "Transaction"). Following the Transaction,
NRS will own 100 % of the shares in NSL.
NSL owns five farming licenses and is part of NRS Region North located on Senja
in Troms. The total harvest volume for NSL in 2015 was 4,415 tonnes. The
Transaction indirectly corresponds to an acquisition of 1.67 farming licenses
including biomass and fixed assets. This yields an enterprise value per license
of approximately NOK 51 million.
The rationale behind the Transaction is to consolidate NRS's farming operations
in Northern Norway to increase production efficiency going forward. The
Transaction fortifies NRS's position in Troms, an important future growth area
for the fish farming industry.
The Transaction, including transfer of assets, is expected to close on 10 March
2016.
For further information, please contact:
Charles Høstlund
CEO
+47 994 18 449
Ola Loe
CFO
+47 911 79 411
