Analyst: PE bid puts Marine Harvest under pressure

The news that private equity companies, Altor and Bain Capital, offered Cermaq NOK 6.2 billion (€806.6 million/$1.1 billion) to buy Ewos, is putting Marine Harvest under pressure to increase its bid, Geir Kristiansen, analyst at Sparbank1 Markets, told IntraFish.

According to Kristiansen, Altor's and Baine's offer is still 7 percent lower than Sparebank1's valuation of the company at NOK 6.6 billion (€858.6 million/$1.2 billion). "Our estimates are slightly above consensus," he said.

Profits from the sale would be used to reduce debt and to realize a special dividend to shareholders, he said.

"Based