Norwegian investment group Bewi Invest is selling some of its seafood shares to one or more unnamed partners for around NOK 675 million (€59.3 million/$64.7 million), it said Dec.15.
The company said it has entered into a binding agreement to sell a minority stake in its seafood division.
Within seafood, Bewi Invest's ownership is mainly shares in the equipment supplier Fiizk and in the salmon farming company Sinkaberghansen.
"The closing of the agreement is conditional on certain conditions, and is expected to be in place before the end of 2023," said the group.
Bewi Invest is an industrial holding company and the owner of more than 10 companies, primarily in industry, property and seafood.
The company's two largest investments are a majority stake (51 percent) in the listed industrial company Bewi, a packaging manufacturer, and an ownership stake in the listed property company KMC Properties (43 percent). It also owns 44.4 percent of SinkabergHansen.
Bewi Invest has long wanted to strengthen its position within seafood, the company said.
"This is in line with a strategy Bewi Invest has had over time to get a partner involved in the investment in seafood," Bewi Invest CEO Bjornar A. Ulstein, told IntraFish.
He did not want to comment on who is buying or how much is being sold, but indicated that the buyer will get less than a third of the business.
Earlier in March, it acquired a 44.4 percent stake in one of Norway's largest privately held salmon farmers, SinkabergHansen, for NOK 2.2 billion (€194.9 million/$211.8 million).
