Orkanger-based seafood producer Isfjord Norway sold more than 1.1 million shares in cod farmer Norcod on Thursday for approximately NOK 103.4 million (€10.1 million/$12.1 million).

The sale represents 6.56 percent of the share capital and voting rights in the company.

In total Isfjord sold 1,117,932 shares in Norcod at a price of NOK 92.50 (€9.10/$10.80) per share.

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Danish wealth management and investment company Artha Kapitalforvaltning through its fund Artha Norcod IV -- already a major shareholder in Norcod -- snapped up a further 800,000 shares as part of the transaction.