Frøy's vessels include the Gåsø Høvding, the world's largest-capacity wellboat.
Frøy's vessels include the Gåsø Høvding, the world's largest-capacity wellboat.

SalMar ponders sale of stake in Frøy

Scottish Sea Farms co-owner begins strategic review prompted by incoming interest in aquaculture services company

Published

Salmon farming giants SalMar is looking at selling its majority stake in Frøy, which supplies marine services to the aquaculture industry.

SalMar owns more approximately 72.11% of Frøy via its 100% ownership of salmon farming and marine services company NTS ASA. The acquisition of NTS has made SalMar the world’s second largest salmon farmer, after Mowi.

In a market announcement today, SalMar said that based on incoming interest it has decided to explore strategic alternatives in Frøy with the aim of maximising value for its shareholders.

It has engaged DNB Markets as financial advisor and Advokatfirmaet BAHR AS as legal adviser to assist in the strategic review.

More than 80 vessels

“Frøy is a leading integrated provider of aqua services to Norwegian salmon farmers,” said SalMar, co-owner of Scottish Sea Farms.

“With a team of more than 800 aqua service specialists and a modern fleet of more than 80 vessels, Frøy offers a wide range of infrastructure services to salmon farmers.

“The service offering includes transport of fish, sorting, counting, cleaning of nets, treatment for diseases and lice, inspection, installation, and maintenance of salmon farming sites.”

SalMar said the strategic review is expected to be concluded within 2023. No decisions have been taken and a transaction, if any, remains subject to market conditions.