Mowi, the world’s largest salmon farmer, is expected to pursue a long-term supply agreement with any potential buyer of its feed division as it aims to free up working capital for reinvestment in its core business, analysts told IntraFish.

Mowi announced Tuesday it is launching a strategic review of its feed division that could result in the sale of that division of the company.

While the feed division is a small part of the company's business, a change in market dynamics may have prompted Mowi’s decision to undertake a strategic review, SpareBank 1 Markets analyst Knut Ivar Bakken told IntraFish.