Salmon giants negotiate merger
(ICELAND, 6/26/2021)
Iceland's two leading fish farming companies have agreed to begin negotiations on a possible merger. These are Ice Fish Farm and Laxar Fiskeldi, which are majority-owned by the Norwegian company Måsøval, which successfully raised £ 70 million (NOK 825 million) last week in a share issue in Oslo.
Representatives from the two companies say they have started preliminary talks to "explore the companies' strategic options for the future." Some of their salmon farms are even physically located quite close to each other.
Photo: courtesy Laxar Fiskeldi
This announcement, while news, is not a complete surprise. Last November, when Måsøval bought a large number of Ice Fish Farm shares from Midt-Norsk Havbruk, it was suggested that a merger with Laxar Fiskeldi was a viable prospect.
The Måsøval family group, based in Frøya, said last week that it plans to use some of the money raised to grow the Icelandic market.
The Oslo Stock Exchange said in a short message that it will provide additional information if merger negotiations move forward.
Photo: courtesy Ice Fish Farm
Ice Fish Farm, Oslo's EuroNext Growth, successfully turned a loss into a profit in the last quarter of last year. The company's operating income was NOK 9.2 million (aprox.US$ 1M).
Laxar Fiskeldi, which produces high quality salmon mainly for the US and European markets, operates onshore farms in the south of Iceland and owns offshore farms in the east of the country. Icelandic authorities recently granted the company additional production licenses.
Source: Fishretail.ru
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Information of the company:
Address:
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Nesbala 122
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City:
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Seltjarnarnes
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State/ZIP:
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(170)
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Country:
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Iceland
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Phone:
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+354 896 0426
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