AKVA group will merge its wholly owned subsidiary Submerged AS into the parent company, the Norwegian aquaculture technology supplier said in an Oslo Børs filing on June 30.
The boards of both companies signed a merger plan on the same day. AKVA group will survive the merger, while Submerged AS will be dissolved and removed as a separate legal entity.
The company said the move is intended to simplify the group’s corporate structure. Following completion, AKVA group will assume all assets, rights and liabilities of Submerged AS.
Submerged has been responsible for developing technology for submerged fish farming, an area of increasing interest for salmon producers seeking to reduce biological challenges such as sea lice and improve fish welfare by operating cages below the surface.
The merger follows a broader effort by AKVA to streamline its operations while continuing to invest in technology for both conventional and next-generation aquaculture systems. The company supplies cage systems, feeding technology, digital solutions and land-based recirculating aquaculture systems (RAS) to salmon farmers in Norway and international markets.
The merger is expected to take effect following the expiry of the statutory creditor notice period and completion of the necessary corporate formalities.
