Cermaq purchase Marine Farms

Cermaq intends to present a mandatory offer to all shareholders in line with the regulations in the Norwegian Securities Trading Act regarding mandatory offers. Cermaq has been holding 16.2% of Marine Farms since 2004, and has followed the company closely in this period. The Scottish operation in salmon farming of Marine Farms Lakeland has delivered good results and has an estimated sale of 12,000 tonnes for 2010. Additionally, MAFA has interesting activities in Seabass/Seabream through Culmarex as well as emerging operations in Cobia farming with the main activities in Vietnam.

Marine Farms is listed at the Oslo Stock Exchange (OSE) with the ticker MAFA

Transaction Cermaq has acquired totally 9.7 million shares corresponding to 26.4% of the shares in Marine Farms for a total of NOK 177 million. This corresponds to a price per share of NOK 18.25. Cermaq already holds 5,929,862 shares, corresponding to 16.2% of the shares in Marine Farms, and through this transaction Cermaq is the largest shareholder in the company holding a total of 42.6 % of the shares in Marine Farms. 

Photo: Geir Isaksen, CEO in Cermaq.