Japanese could own Cermaq fish farm business / News / The Foreigner

The Foreigner Japanese could own Cermaq fish farm business. The Norwegian government is prepared to sell its stock in the salmon farming business to the Mitsubishi Corporation. Mitsubishi has put in an offer for NOK 96 per share in Cermaq. This totals NOK 8.8bn (about USD 1.38bn/JPY 150.86m at today’s ROE) for all the shares.   The Norwegian government currently owns 59.17 per cent of the shares, only just finalising the acquisitions of Cermaq last year.

salmon, norway, fishfarming



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Japanese could own Cermaq fish farm business

Published on Monday, 22nd September, 2014 at 21:40 under the news category, by Susanne Tunge Østhus.
Last Updated on 22nd September 2014 at 21:54.

The Norwegian government is prepared to sell its stock in the salmon farming business to the Mitsubishi Corporation.



Mitsubishi has put in an offer for NOK 96 per share in Cermaq. This totals NOK 8.8bn (about USD 1.38bn/JPY 150.86m at today’s ROE) for all the shares.  

The Norwegian government currently owns 59.17 per cent of the shares, only just finalising the acquisitions of Cermaq last year.

Cermaq’s Board of Directors has unanimously decided to recommend that their shareholder accept the offer from Mitsubishi.

“Together, Cermaq and Mitsubishi Corporation will become the world’s second-largest salmon farming company, set for further sustainable growth," Rebekka Glasser Herlofsen, Chairperson of Cermaq’s Board of Directors said in a statement.

The offer will stand for four weeks. This enables competing businesses to also put in an offer.

No redundancies have been planned for employees in Cermaq so far. Many worry in a takeover situation that the headquarters will be outsourced to other countries.

Cermaq will maintain its headquarters in Oslo, however, if they accept the offer from Mitsubishi.

The Norwegian state has announced that they are prepared to sell shares in Cermaq under the terms and conditions outlined by Cermaq and Mitsubishi in today’s statement.

“I am pleased that Cermaq ASA attracts interest from a prime international industrial corporation, confirming the global visibility, reach and recognition of the Norwegian fish farming industry,” Norwegian Trade and Industry Minister Monica Mæland said in a statement.

The deal has not been set in stone, as the Norwegian state is open to selling their shares to another party if they get a more attractive offer than Mitsubishi’s within the four-week acceptance period.



Published on Monday, 22nd September, 2014 at 21:40 under the news category, by Susanne Tunge Østhus.
Last updated on 22nd September 2014 at 21:54.

This post has the following tags: salmon, norway, fishfarming.





  
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