Directors of Icelandic group Brim, formerly known as HB Grandi, have approved earlier announced deals for the acquisition of two fisheries companies in Hafnarfjordur, Fiskvinnslan Kambi and Grabrok.
Kambur is a fish processing company that handles roughly 2,000 metric tons of longline cod. The purchase price is ISK 2.3 billion (€16.5 million/$18.4 million) and will be paid in part with shares in Brim.
Grabrok holds 850 metric tons of longline cod, with a purchase price of ISK 772 million (€5.5 million/$6.2 million).
The agreement is still subject to approval by shareholders and of Iceland's regulatory authorities.