Norway Royal Salmon and Midt-Norsk Havbruk discuss possible merger

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However, the outcome of these talks is currently unclear.

In a statement on the Oslo Stock Exchange, the Norwegian salmon farmers Norway Royal Salmon and Midt-Norsk Havbruk took the unusual step to confirm ongoing negotiations made to media reports related to a possible merger between them.

“Discussions are taking place, but the outcome of these is currently unclear. Any additional information will be published at an appropriate time,” NRS wrote.

The release was referring to IntraFish, which reported on Tuesday, based on anonymous sources, that there are ongoing discussions about a “mega-merger” between the two companies.

“It is obvious that Gåsø is looking at a solution for Midt-Norsk Havbruk and NRS. I believe that it is now only a matter of negotiations on trade conditions,” an anonymous source told IntraFish.

The backdrop is that Helge Gåsø is a main shareholder in NTS, which owns Midt-Norsk Havbruk.  Gåso is also NRS chairman of the board and owns the Frøy group. The aquaculture service giant became the largest owner in NRS in 2019.

“The Norway Royal Salmon (NRS) group owns 36 085 tonnes located in Troms and Finnmark. In addition, the group has a minority interest in three associated Norwegian fish farming companies which together own 11 fish farming licenses, as well as Arctic Fish in Iceland that has licenses for 11 800 tonnes in MAB. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organisation,” added NRS in the press release.

According to IntraFish, another Norwegian salmon farmer Salmonor may also be incorporated into the possible merger. Salmonor CEO Vibecke Bondø wrote in a text to IntraFish that “there is talk about one and the other, and I don’t know exactly where it comes from.”