SalMar increases ownership of Iceland’s largest salmon farmer

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SalMar raises stakes in Arnarlax.

In a financial statment posted this morning, SalMar announced that it had entered into an agreement to purchase 3,268,670 shares in Arnarlax at a price of NOK 55 per share, totalling NOK 179,776,850.

SalMar already owns 41.95 per cent of the shares in Arnarlax, thereby increasing its ownership interest to 54.23 per cent. As a result of the transaction, SalMar will make an offer to purchase the remaining 12,181,761 shares in the company at approximately NOK 55.50 per share.

“The chairman of the board of Arnarlax AS, Kjartan Olafsson, has confirmed that he wishes to continue as an owner in Arnarlax AS and will as such not sell shares in response to the offer,” SalMar said. It did not disclose the size of Olafsson’s stake.

Sparebank 1 Markets assisted and facilitated the transaction.

SalMar also reported record fourth-quarter operating earnings down to volume growth and reduced costs resulting from operational improvements.