Investors on the Oslo Stock Exchange didn’t exactly jump for joy when news came, last Tuesday morning, that Austevoll Seafood and Norway Pelagic would be continuing integration.
In brief, the deal sees Austevoll Seafood receive 2.7 million new shares in Norway Pelagic.
In return, Norway Pelagic takes over segments of Austevoll's pelagic industry. These are Austevoll Fisk, which controls Sir Fish, North Capelin, Modolv Sjoset, Austevoll Fiskeindustri and the sales firm Atlantic Pelagic.
Additionally, Austevoll Seafood’s 25-percent stake in Shetland Catch is to be integrated into Norway Pelagic.
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