SalMar approves merger with Wilsgård AS and share capital increase.
SalMar has approved a merger plan to consolidate Wilsgård AS into the SalMar group through a triangular merger involving its wholly owned subsidiary, SalMar Farming, as the acquiring company. The transaction follows the intention announced on 18 February 2025 to develop joint ownership in Wilsgård.
The agreed valuation of Wilsgård is NOK 1.767 billion ($170 million) on a 100% basis. Under the terms of the merger, the consideration will consist of 80% SalMar shares and 20% cash. SalMar Farming will not receive any merger consideration.
To facilitate the issuance of consideration shares, SalMar’s board has resolved to increase the company’s share capital by up to NOK 407,985.75, depending on the timing of the company’s proposed dividend of NOK 22 per share. This will involve issuing between 1,568,216 and 1,631,943 new shares at a price of NOK 563.38 per share.
SalMar currently holds a 37.5% stake in Wilsgård, which operates in Northern Norway with 5,844 tonnes MAB in production areas 10 and 11. The merger is expected to enhance operational efficiency, reduce costs, and support regional development.
The transaction is subject to regulatory approval and is expected to be completed in summer 2025.
SalMar acquired its interest in Wilsgård following its acquisition of NTS and merger with NRS in 2022.
