Norway Royal Salmon dissolved after merging with SalMar

Aslak Berge

Norway Royal Salmon (NRS) has been dissolved and will cease to be traded on the Oslo Stock Exchange from Tuesday, November 8, following the completion of the merger between it and SalMar on Monday.

SalMar has now taken over all assets, rights and obligations from NRS, SalMar stated in a stock exchange announcement on Monday evening. The merger consideration, which consists of cash and new shares in SalMar, is expected to be delivered to the former shareholders in NRS around 11 November.  Shareholders in NRS will receive merger consideration consisting of 0.303933 shares in SalMar and NOK 52.84 ($5.17) in cash for each share they own in NRS.

When the consideration shares are issued in connection with the completion of the merger, NTS will receive 13,691,960 shares in SalMar, corresponding to 10.09 percent of the outstanding shares in SalMar.

NRS owned, until Monday (November 7) 36,085 tonnes of maximum permitted biomass (MTB) for salmon farming located in Troms and Finnmark. The company’s activity in Iceland, through the ownership stake in Arctic Fish, has been sold to Mowi. In addition, the group had minority shares in two associated farming companies that have nine farming licences combined.

NRS also exports salmon to the market through its own sales apparatus. All of these have now been taken over by SalMar.





Related Articles