Strategic Merger between SalMar ASA and Wilsgård AS
In an exciting development for the aquaculture sector, SalMar ASA has announced its merger with Wilsgård AS, marking a pivotal moment in its growth strategy. This merger between two influential players in fisheries is set to enhance operational efficiencies and fortify their market positions.
Details of the Merger Agreement
The boards of SalMar and Wilsgård, alongside SalMar Farming AS, have endorsed a triangle merger plan, with SalMar Farming acquiring Wilsgård. According to the plan, Wilsgård is valued at NOK 1,767 million in total, with a unique merger consideration structure that allocates 80% in shares and 20% in cash. Importantly, SalMar Farming will not receive any merger consideration, focusing the transaction’s benefits towards strategic expansion.
Increase in Share Capital
To support this significant merger, SalMar has resolved to increase its share capital by NOK 392,054, with the issuance of 1,568,216 new shares. Each share will have a nominal value of NOK 0.25. This strategic move aligns with the valuation of NOK 563.38 per share that has been established for the merger. Should a previously proposed dividend of NOK 22 per share be approved prior to the merger's effective date, the capital increase would adjust to NOK 407,985.75 with 1,631,943 shares being issued.
Impact on Regional Development and Operations
SalMar's acquisition of Wilsgård enhances its existing 37.5% ownership, solidifying its influence and operations in the region. Wilsgård has a notable presence in Northern Norway with 5,844 tonnes MAB in licenses across production areas 10 and 11. This merger promises to foster regional development and improve overall operational efficiencies, adapting to the evolving needs of the fisheries and aquaculture sectors.
Looking Ahead: Projected Completion of the Merger
Completion of the merger is slated for summer 2025, pending the requisite authorizations from relevant regulatory bodies. Both companies are looking forward to the synergies that this partnership will create, ultimately focusing on sustainable practices while enhancing profitability and resilience in the market.
Contact Information for Inquiries
For any inquiries regarding this merger, feel free to reach out to the following contacts:
Frode Arntsen, CEO
Tel: +47 482 06 665
E-mail: frode.arntsen@salmar.no
Håkon Husby, Head of Investor Relations
Tel: +47 936 30 449
Email: hakon.husby@salmar.no
Frequently Asked Questions
What is the purpose of the SalMar and Wilsgård merger?
The merger aims to enhance operational efficiencies and strengthen market positions in the aquaculture sector.
What will be the share capital increase associated with the merger?
SalMar will increase its share capital by NOK 392,054 through the issuance of new shares to facilitate the merger.
When is the merger expected to be completed?
The merger is anticipated to be finalized in summer 2025, pending necessary approvals from relevant authorities.
How does Wilsgård contribute to SalMar's business?
Wilsgård adds significant production capacity and strengthens SalMar's operational base in Northern Norway.
Who can I contact for more information about the merger?
Company CEO Frode Arntsen and Head of Investor Relations Håkon Husby are available for queries regarding the merger.
