Oslo Stock Exchange acquire Fishpool
The acquisition represents a further step in strengthening Oslo Børs’ commitment to the seafood sector in which it already has a world-leading position.
With 19 Norwegian and foreign companies in the seafood sectors listed, Oslo Børs is currently the largest global marketplace for this sector. The acquisition of shares in Fish Pool strengthens its position as the world's leading seafood exchange.
“We are impressed by the progress of Fish Pool in recent years. The company has contributed to large and important breakthroughs in the market for trading financial salmon contracts. This is an exciting step for us and we look forward to working closely with Fish Pool in the marketing and development of the financial market for salmon derivatives”, says Bente A. Landsnes, President and CEO of Oslo Børs.
“Oslo Børs has succeeded in establishing itself as the world’s leading seafood exchange, and has both competence and network that will be valuable for us in our further development of Fish Pool. We are very satisfied to have Oslo Børs as an owner of Fish Pool”, says Søren Martens, Managing Director of Fish Pool ASA.
The sellers of approximately 71% of the shares in Fish Pool are Imarex, Bergen Energi and GC Rieber. The transaction is conditional on the parties reaching agreement on a final form of agreement, and the purchase also requires approval by the relevant authorities. As part of the agreement, Oslo Børs will also extend its offer to purchase shares to the other shareholders in Fish Pool.
The agreement values 100% of Fish Pool at NOK 27.25 million.
Fish Pool is the only regulated market in the world for trading financial salmon contracts. Fish Pool offers futures and options settled against the spot price of salmon. Fish Pool has more than 200 trade members covering the value chain of salmon: salmon farmers, exporters, importers, processors and financial investors. Fish Pool ASA is a leading information provider, delivering price information to the worldwide salmon industry and financial marketplaces.
Satisfied
We are today proud to announce that Oslo Stock Exchange will be our new majority shareholder, see link to press release below. Since the start in 2006 Fish Pool has grown to become the world’s leading marketplace for financial salmon contracts. We would like to take this opportunity to thank our selling shareholders for their support and willingness to invest in the start-up phase. This has been essential for achieving this, says CEO Søren Martens in a comment.
