NTS shareholders withdraw bid

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Offer dropped after Mowi enters the field.

On Monday 17 January, it was announced that a company owned by a group of leading shareholders in NTS was to make a voluntary cash offer for the company. The offer, characterised by a number of conditions, was to buy all outstanding shares in NTS for NOK 105 per share.

Seven days later, Mowi came on the scene, and announced that the company intended to launch a voluntary offer for all shares in NTS of NOK 110 per share.

Also read: NTS saga: Did we see this coming?

The initial offer was conditional on a competing offer with a higher bid not being announced. Following Mowi’s bid, this condition is no longer met, and it has therefore been decided that this offer will be withdrawn, according to a statement from NTS on Monday afternoon.

NTS is a fully integrated salmon farmer, with operations in Norway, and Iceland. The aquaculture service and shipping company Frøy is also part of the NTS group. The estimated harvest volume for NTS ‘fish farming division SalmoNor in 2022 is 34,750 tonnes and 39,000 tonnes for 2023. Meanwhile, NRS (68 per cent owned by NTS) is estimated to harvest 35,000 tonnes in 2022 and approximately 50,000 tonnes in 2023. For Ice Fish Farm, the estimated harvest volume is 13,000 tonnes for 2022.