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Marine Harvest makes takeover offer for Cermaq

Published on 8 May, 2013, Last updated at 14:00 GMT
Marine Harvest makes takeover offer for Cermaq

Marine Harvest has made a takeover offer for Cermaq, the takeover which if accepted would help it form the third largest seafood group in the world.

Marine Harvest, a Norwegian seafood company has operations in a number of countries around the world. The company's primary interest is the production, processing and sale of farmed salmon, with its operations focused on Norway, Scotland, Canada, the Faroe Islands, Ireland and Chile.

Cermaq is an international fish farming and fish feed group, headquartered in Oslo, Norway. It owns feed producer EWOS is a leading supplier of feed and nutrition for the international aquaculture industry.

Marine Harvest is currently in the process of developing its own feed division, and aqcuiring Cermaq, would fit in well with those plans.

The company currently has plans for the construction of a salmon feed plant of 200,000 tonnes (two thirds of their Norwegian farms' feed requirements) per annum to open next year in Bjugn, Norway.

If accepted, the takeover deal with help in the creation of a global industry leader based upon a complete footprint along the Norwegian coast.

The launch of Marine Harvest's takeover offer is conditional on Cermaq shareholders deciding not to carry out the acquisition of fishmeal and fish oil producers Copeinca.


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