Marel to acquire fellow Icelandic equipment manufacturer Valka

Icelandic equipment giant Marel is acquiring Valka, a fellow Icelandic manufacturer of processing equipment for the global fish industry.

Marel aims to acquire 100 percent of Valka's share capital. An agreement has already been reached to acquire more than 90 percent of the share capital, and the remaining shareholders will be offered a chance to sell their shares at the same terms.

The transaction is subject to customary closing conditions, including anti-trust approval from the Icelandic Anti-trust Authority, and is expected to be completed later this year.