Ice Fish Farm board approves acquisition of Laxar

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Icelandic salmon farmers Ice Fish Farm’s board has formally approved a share purchase agreement for the acquisition of fish farming company Laxar.

A press release published on Ice Fish Farm’s website announced the agreement between the majority shareholders of the company and Laxar, with them voting in favour of an acquisition bid.

Ice Fish Farm will assume ownership of Laxar and its subsidiaries through the deal, with the consideration paid in newly issued Ice shares.

The board of directors of Ice Fish Farm approved the draft share purchase agreement, with the transaction expected to be complete by the end of Q2 in 2022.

Ice Fish Farm will call an extraordinary general meeting to approve the issuing of 37,525.424 new consideration shares to Laxar shareholders, increasing the total number of shares outstanding in the company to 91,525.424.

The information was made public by Ice Fish Farm CEO Guðmundur Gíslason, with the agreement being subject to the disclosure requirements in section 5-12 of the Norwegian Securities Trading Act.