Cermaq entered into a definitive share purchase agreement with Altor andBain Capital regarding the sale of EWOS, the company said in a stock exchangerelease Thursday.
The deal puts the company's fish feed arm EWOS at an enterprise value of NOK6.5 billion (€824.8 million/$1.1 billion), which will be payable in cash uponcompletion.
The transaction is expected to close by the end of October 2013, the companysaid.
The transaction will enable Cermaq to free up significant funds, which willbe used to reduce debt "to ensure a continued solid capital structure andcompliance with all financing commitments for the remaining operations, and torealize an extraordinary dividend to the shareholders."
