Icelandic fishing giant Sildarvinnslan reached an agreement Friday to purchase a 34.2 percent stake in the Norway Royal Salmon-controlled salmon farming company Arctic Fish Holding from former Morpol owner Jerzy Malek and other investors.

The total purchase price of NOK 1.1 billion (€107.4 million/$113.7 million), will be paid in cash, which will partly be financed with loan capital.

Sildarvinnslan acquired the Arctic Fish shares from Malek's Bremesco Holding, investment group NOVO and Arctic Fish CFO Neil Shiron Thorisson at NOK 100 (€9.90/$10.40)