Norwegian salmon producer, Norway Royal Salmon (NRS) is filing a lawsuit against its majority owner, aquaculture giant NTS, and claiming compensation for breach of contract, in an ongoing dispute.
The move follows NTS's decision on April 7 to vote down a capital raise for Norway Royal Salmon which would enable it to buy fellow salmon company SalmoNor.
The share purchase agreement signed between NRS and NTS on January 11, contained "a clear and express provision" requiring NTS to sell the shares in SalmoNor and vote in favour of the share issue, said Norway Royal Salmon in a stock exchange announcement on Friday.
