SalMar commences cash offer to acquire remaining shares in Arnarlax

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SalMar agrees on share purchase that’ll give it a majority stake in Icelandic fish farmer Arnarlax.

On February 14 this year, SalMar announced that it would buy out the rest of Iceland’s largest salmon farm, Arnarlax.

In a financial statement posted on Wednesday morning, SalMar wrote that it had triggered a mandatory offer clause in the shareholder’s agreement for Arnarlax and will, as a result, put forward a cash offer for all the remaining shares in the company.

The offer period under SalMar offer to acquire the remaining shares in Arnarlax will commence on 13 March 2019 and will end at 18:00 CET on 10 April 2019 (subject to extension).

The offer price is NOK 55.783 per share and the offer is unconditional.

Prior to the acquisition, SalMar controlled 54.2 per cent of the shares in the company.

DNB Markets is acting as financial advisor and receiving agent in connection with the offer.