Norway Increases Stake in Fish-Feed Producer Cermaq to 53.8%
Norway increased its stake in fish-feed maker Cermaq ASA (CEQ) to 53.8 percent from 43.5 percent and will seek to buy more shares, the Trade and Industry Ministry said.
The government bought 9.46 million shares in Cermaq at 108 kroner per share, it said in an e-mailed statement today. It will also seek to buy as many as 5 million more at the same price today, the ministry said.
Norway is increasing its stake in Cermaq, which operates fish farms as well as making feed, after seeing off a rival bid from Marine Harvest ASA (MHG), the world’s largest salmon producer. Cermaq, based in Oslo, has also received a 6.2 billion-krone offer for its Ewos unit, which makes fish-feed, from Bain Capital LLC and Altor Equity Partners.
Shares in Cermaq rose 5.4 percent to 108 kroner as of 9:15 a.m. in Oslo, having closed at 102.5 kroner yesterday. That gives the company a market value of 10 billion kroner ($1.63 billion). Marine Harvest gained as much as 3.6 percent and traded 2.1 percent higher at 5.86 kroner as of the same time.
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