February 15, 2022

Salmar offers to buy NTS, trumping Mowi's previous bid

Norway-based Salmar ASA has offered 20% in cash and 80% in shares for a deal to buy rival NTS at NOK 15.1 billion (~US$1.7 billion; NOK 1 = US$0.11) surpassing a previous bid made by Mowi ASA, the biggest Atlantic salmon producer in the world, Bloomberg reported.

Seperately, Mowi announced that it will no longer continue with its offer to buy NTS at NOK 110 (~US$12.41) per share, equally divided between shares and cash.

Salmar said owners controlling more than half of NTS have committed to back the purchase, which the company said will realise significant synergies through a more efficient utilisation of both companies' resources.

Salmar also said the purchase will spark further sustainable growth in local communities where the companies operate, both in northern parts of Central Norway, Northern Norway, and Western fjords of Iceland.

-      Bloomberg