On Tuesday, the Swedish real estate company SBB bought 62.65 per cent of the Norwegian housing developer Solon Eiendom. Runar Vatne was the largest shareholder in Solon Eiendom with an ownership stake of 21 per cent. He has sold all his shares, and cashed-in for around €75 million.
Vatne has now used some of this settlement to buy up stock in Atlantic Sapphire.
On Thursday, Lioness, a company controlled by Runar Vatne, bought 150,000 shares in Atlantic Sapphire at an average price of 46.40 per share. This means that Vatne has paid NOK 6.96 million (€700,000) for the shares.
Following the transaction, Vatne Equity owns five million and Lioness 400,000 shares in the fish farming company, a total of 5.9 per cent of the outstanding shares, according to a stock exchange announcement.
On Wednesday it was announced that Atlantic Sapphire and Skretting had signed a letter of intent for the feed manufacturer to set up a factory in Florida to supply the land-based salmon farmer. The deal is expected to significantly reduce costs for Atlantic Sapphire in the long term.