The European Commission has agreed to Norwegian salmon farming giant SalMar's acquisition of a controlling stake in NTS, paving the way for the creation of the world's second-largest salmon farming company.
The Norwegian Competition Authority in July gave the green light to SalMar's proposed acquisition of all of the shares in Norwegian salmon farmer NTS and, thereby, SalMar's proposed merger with Norway Royal Salmon (NRS), a subsidiary of NTS.
As part of the deal, the combined group -- owned by Norwegian billionaire Gustav Witzoe -- reached a deal to sell off NTS' shares in Icelandic salmon farming group Arctic Fish Holding to Mowi, the world's largest salmon farming company.
