NTS swaps Ice Fish Farm shares for more of NRS
Norwegian integrated aquaculture and shipping group NTS today increased its stake in Norway Royal Salmon (NRS) to just under 30% and outlined an ambition to produce 100,000 tonnes of salmon annually within the next three to five years.
NTS, which owns salmon farmer Midt-Norsk Havbruk (Central Norwegian Aquaculture) and Norsk Fisketransport, the world’s third-largest wellboat company, has swapped its shares in Icelandic salmon operation Ice Fish Farm for the 12.8% shareholding in NRS held by family-owned fish farmer Måsøval. The NRS shares being swapped have a value of NOK 1.3 billion (£108 million).
If Ice Fish Farm increases its licence volume to 24,000 tonnes or more by the end of 2022, Måsøval will pay a fee of NOK 150 million to NTS.
Together with 150,000 shares in NRS owned by NTS’s largest shareholder, Helge Gåsø, NTS now controls 12,640,028 shares in NRS, corresponding to 29.4% of stock and votes.
Attractive licence portfolio
“We are currently increasing our exposure to Norwegian aquaculture and the company we believe is best positioned for further growth in the sector. NRS has good locations, an attractive licence portfolio and will through significant investments in e.g. smolt plants make operations even better in the years ahead,” said NTS chairman Nils Martin Williksen.
“Through Arctic Fish, the company also has a significant exposure in Iceland, which means that NTS ASA is still exposed to the exciting development there.
“Ice Fish Farm AS has been a good investment for NTS. We believe that by passing on the baton to Måsøval, with its experience on the east coast of Iceland, we are helping to create new opportunities and further growth for Ice Fish Farm AS.”