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Belgian billionaire family becomes Mowi’s second-largest private shareholder

A Mowi farm in Scotland. The company has attracted significant investment from a billionaire Belgian family.
A Mowi farm in Scotland. The company has attracted significant investment from a billionaire Belgian family.

A Belgian billionaire family has become the second largest private shareholder in Mowi after its most recent purchase of 774 shares.

The share purchase by Owen Capital, controlled by Groupe Bruxelles Lambert, increased the total number owned by the family to 28,855,556 shares - or exactly 5% of the company. This means that Owen Capital must flag further transactions on the Oslo Stock Exchange, reports DN investor. 

The website reports that Groupe Bruxelles Lambert is controlled by the Belgian billionaire siblings Gérald Frère and Ségolène Frère Gallienne, who inherited the fortune of Albert Frère.

‘Belgium’s Warren Buffet’

According to the New York Times, Albert Frère was often referred to as  "Belgium's Warren Buffet".

The company's share capital corresponds to a value of approximately NOK 5.1 billion - which makes the Belgian family the second largest private shareholder after Norwegian-born John Fredriksen, who owns around 15%, and the third-largest shareholder overall.

Folketrygdfondet, the Government Pension Fund Norway, which supports state pensions, owns around 10%.

Share price recovering

Groupe Bruxelles Lambert’s build up of Mowi shares appears to have been done quickly. A list on Mowi’s website of the top 20 shareholders at September 30 this year doesn’t mention either Owen Capital or Groupe Bruxelles Lambert.    

DN Investor writes that Mowi has risen about 15% since the beginning of November, but the price is still about 20% below what it was before the Covid-19 pandemic began to have an impact in February.