Israel Corporation (ILCO), a listed Israeli investment company, is taking a 15 percent stake in aquaculture equipment heavyweight Akva Group, partnering with the company in attracting investments for land-based projects based on Akva technology.

The investment will be completed through a private placement of 3,333,430 newly issued shares (corresponding to approximately 10 percent of the current outstanding shares in AKVA) at a subscription price of NOK 96.50 (€9.54/$11.12) per share and an aggregate amount of NOK 321.7 million (€31.8 million/$37.1