The company says it's entered into a share purchase agreement to acquire at least 51 percent in cod farming company NAP Marine.
Norway-based Codfarmers is seeking to raise between NOK 30 million (€3.3 million/$4.6 million) and NOK 50 million (€5.5 million/$7.7 million) from a private placement.
"We are very pleased with the acquisition of NAP Marine AS. The company has long experience with production of farmed cod,” said CEO Michael Malling.
“NAP Marine has a strong balance sheet with limited debt. The company's owners are willing to invest in our private placement as part of the transaction, something we regard as positive.”
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