Norway Royal Salmon and Midt-Norsk Havbruk have turned their backs on a possible merger.

Norwegian salmon farmers end merger talks

Norway Royal Salmon and Midt-Norsk Havbruk (Mid-Norwegian Aquaculture) have terminated discussions about a possible merger, NRS said in a market announcement today.

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In October NRS confirmed media reports that talks were taking place but said the outcome was “currently unclear”.

NRS group owns licences for 36,085 tonnes maximum allowed biomass in Troms and Finnmark in northern Norway and has a minority interest in three associated Norwegian salmon farmers which together own 11 licences.

It also has a 50% stake in Arctic Fish in Iceland, which farms at five sites in three fjords on the country’s west coast and has licences for 11,800 tonnes maximum allowed biomass. Arctic Fish is part of NTS group, which owns Midt-Norsk Havbruk.

Majority ownership

In its third-quarter report released earlier this month, NRS said it wanted to take Arctic Fish further and had engaged financial advisors to explore a potential listing on Norway’s Merkur Market.

“A possible result of the process is that NRS will surpass majority ownership in Arctic Fish after the transaction,” said NRS at the time.

Midt-Norsk Havbruk owns 10 licences and is the developer of the Aquatraz semi-closed pens. NTS group also has interests in smolt production, service boats, wellboats, shipping, ferries and aquaculture and vessel management services.