SalMar ASA Completes Major Acquisition in Offshore Aquaculture
SalMar ASA has recently solidified its position in the offshore aquaculture sector by acquiring Aker Capital AS's 15 percent stake in SalMar Aker Ocean AS. This strategic move involves a settlement comprising one million shares of SalMar and a cash payment amounting to NOK 76 million.
Growth Potential in Offshore Aquaculture
Offshore aquaculture is experiencing an unprecedented surge in growth potential, both in local and international markets. After thorough evaluations, SalMar and Aker reached the consensus that managing technological advancements and capitalizing on opportunities in offshore and semi-offshore aquafarming is best accomplished under the umbrella of the SalMar group. This integrated approach allows for a more streamlined evaluation of technical and regulatory structures across diverse production areas.
Leadership Transition
As part of this restructuring, Roy Reite and Trine Sæther Romuld, the CEO and CFO of SalMar Aker Ocean AS, will step down, paving the way for Anders Fjellheim to step into the role of managing director. This transition marks a new chapter in the company’s operations as it transforms into a fully owned subsidiary of SalMar ASA.
Valuation and Financial Implications
The acquisition places a valuation of NOK 4.33 billion on SalMar Aker Ocean AS at the full ownership level. With SalMar already holding 85 percent of SAO, this transaction sees the company purchasing Aker’s shares for NOK 650 million, significantly supported by the valuation of the transferred shares, which are pegged at NOK 574 per share.
Future Shareholding Structure
Post-transaction, Aker will retain a 0.75 percent ownership stake in SalMar, a notable shift in the landscape of the company. This move not only bolsters SalMar’s financial strength but also enhances its operational capabilities within the offshore aquaculture segment.
About SalMar ASA
SalMar ASA stands among the world's foremost and most efficient salmon producers. The Group operates extensive farming activities in Central Norway, Northern Norway, and Iceland, complemented by significant harvesting and processing operations. The company is also actively involved in offshore aquaculture through SalMar Aker Ocean and has partial ownership in Scottish Sea Farms Ltd, holding 50% of its shares.
Frequently Asked Questions
What did SalMar ASA acquire from Aker Capital AS?
SalMar ASA acquired Aker's 15 percent stake in SalMar Aker Ocean AS, which includes one million shares and a cash payment of NOK 76 million.
How does this acquisition impact SalMar's operations?
This acquisition allows SalMar to manage offshore aquaculture more effectively, enhancing its position and potential for growth in this market.
Who will lead SalMar Aker Ocean AS following this acquisition?
Anders Fjellheim will take over as the new managing director as the company transitions into a wholly owned subsidiary of SalMar ASA.
What is the valuation of SalMar Aker Ocean AS after the acquisition?
The transaction values SalMar Aker Ocean AS at NOK 4.33 billion on a 100 percent basis.
What is SalMar ASA known for?
SalMar ASA is recognized as one of the largest and most efficient producers of salmon, with operations in multiple regions and significant involvement in offshore aquaculture.
