Morpol ASA: EU Comission approves Marine Harvest acquisition of Morpol
Morpol ASA - EU Commission approves Marine Harvest acquisition of Morpol
Oslo, 30th September 2013: Morpol ASA (OSE: MORPOL)
Reference is made to the mandatory offer (the "Offer") made by Marine Harvest
ASA ("Marine Harvest") to acquire all outstanding shares in Morpol ASA
The EU Commission has today approved the completion of the Offer, subject to
certain conditions. Marine Harvest is to divest 18,000 tonnes of farming
capacity in Shetland (11,000 tonnes) and Orkney Islands (7,000 tonnes),
currently operated by Morpol. In addition the company is to divest freshwater
capacity and processing plants in the same areas.
With the approval of the transaction, Marine Harvest has the right to vote for
all its shares in Morpol.
"We are very excited about Morpol joining the Marine Harvest Group. This is
the start of the next big phase of the development of Morpol", says CEO of
Morpol, John-Paul McGinley.
For further information, please contact:
Piotr Kapinos, Chief Financial Officer, email@example.com, phone
The Morpol Group is engaged in salmon processing as well as sale and
distribution of finished salmon products.
The Morpol Group's main products are: cold and hot smoked salmon, gravadlax,
fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and
salmon specialties. The Morpol Group also has salmon farming activities in
Scotland since 2010 and Norway since 2011. The Morpol Group had revenue of
approximately EUR 502.7 million in 2012.
Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs
over 4 000 people in nine countries. Morpol Group is the world leader in
smoked salmon. The company has achieved its world leading position through the
efficiency of processing activities, a constant focus on product quality and
service provided to retail and food service customers. Morpol serves customers
across Europe, Japan and the United States.
For more information, please visit our web site at www.morpol.com
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
Press release - acquisition
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Source: Morpol ASA via Thomson Reuters ONE
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