Former SalMar chairman sells €40 million stake

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Bjorn Ivar Flatgard sold all his shares.

Glomar, controlled by Salmar ex-chairman Bjorn Ivar Flatgard, has successfully completed share sale in SalMar for an amount of approximately €40 million. Glomar will receive the shares for sale as consideration for Kvarv’s acquisition of Glomar’s 2.53% minority ownership in Kverva. Kverva is the parent company of Kverva Industrier, the majority shareholder in SalMar holding 60,500,000 shares or approximately 53.4%.

According to SalMar the share sale was “significantly oversubscribed”.

A total of 1,063,863 SalMar shares were sold at a price of NOK 364 per share (corresponding to a discount of 4.21% to close price on Tuesday, the company informed in a stock exchange announcement.

Following the share referred to above, Glomar will not own any shares in SalMar, and Kverva Industrier will hold 59,436,137 shares (52.46%) in SalMar.

DNB Markets and Nordea Bank acted as joint bookrunners in the private placement.