Mating season for salmon -- salmon companies, that is.
Here's how it's going to work. Cermaq, which is 80% controlled by the Norwegian government, will own 60% of the new company. Fjord Seafood will pick up the remaining 40%. And Domstein, which has a 26% stake in Fjord, will become the largest private shareholder, receiving NOK 175 million ($20 million -- in additional Flord shares as well as NOK 200 million ($22.8 million) in cash. Fjord will also spawn new shares worth up to NOK 1 billion.
The companies predicted in a joint statement that the new enterprise would overtake PanFish to become the second largest farmed salmon producer in the world: "The new firm will have a 12% share of the global salmon farming market and a 40% share of the salmon feed market," they claimed.
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|Title Annotation:||Domstein, Cermaq, and Fjord Seafood merger to create new company|
|Comment:||Mating season for salmon -- salmon companies, that is.(Domstein, Cermaq, and Fjord Seafood merger to create new company)(Brief Article)(Statistical Data Included)|
|Publication:||Quick Frozen Foods International|
|Article Type:||Brief Article|
|Date:||Apr 1, 2002|
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