Scottish Salmon Company’s second largest owner sells entire stake as Bakkafrost secures control

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Investor and shipping magnate Frode Teigen profits.

According to a financial statement from the Oslo Stock Exchange on Friday morning, Frode Teigen has sold his entire stake of 12,300,000 shares in The Scottish Salmon Company (“SSC”), representing approx. 6.3% of the issued shares in SSC.

Kontrari, a company wholly owned by Frode Teigen, also sold its entire stake of 2,702,211 shares in The Scottish Salmon Company representing approx. 1.4% of the issued shares in SSC.

At the same time, Bakkafrost reported that has acquired 17.849.626 shares in The Scottish Salmon Company at a price of NOK 28.25 per share, which corresponds to 9.2% of the shares of The Scottish Salmon Company.

This trade is descrete from the binding agreement to acquire 68.6% of Scottish Salmon Company, announced on 25 September.

With the sale, Teigen will add around EUR 42 million to his bank account, of which significant part of that is profit.