OSLO (dpa-AFX) - Mowi ASA (MNHVF, MHGVY, MOWI.OL), a Norwegian seafood company, on Tuesday entered into a transaction agreement to acquire Torghatten Aqua AS's salmon farming seawater business in Northern Norway for a net cash of NOK 293 million or about 26 million euros.
The deal is subject to approval by the Norwegian competition authority and customary closing conditions.
The transaction includes the carve-out and purchase of 3.37 salmon farming licenses totaling 2,628 tonnes of maximum allowed biomass.
The licenses consist of 1.37 commercial licenses, one exhibition license and one education license.
The company expects the license portfolio to support annual harvest volumes of around 4,500 gutted weight tonnes.
As part of the transaction, the company will return its 33.34% stake in Torghatten Aqua to allow the company to develop its non-seawater operations independently.
On Monday, MOWI.OL closed trading 3.58% lesser at NOK 215.40 on the Oslo Stock Exchange.
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