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