Arnarlax and Arctic Fish merging soon
Photograph/Icelandic Salmon
Two of the biggest fishfarming companies in the Westfjords, Arnarlax and Arctic Fish, are merging soon and will be owned by the Norwegian Royal Salmon (NRS) which is already the owner of Arctic Fish. Estimated annual production this year is 26,600 tons of farmed salmon.
Today Norwegian Royal Salmon and SalMar, the current owner of Arnarlax, announced in the Norwegian Stock exchange about the forthcoming merge. The merge will be finalized in the way that SalMar is buying all the NRS stock and will pay 0.369 stocks in SalMar for each share in NRS.
Mutual interests in the aquaculture industry
The merge is, however, dependant upon NRS's buy on SalmoNor, the subsidiary company of SalMar and that SalMar's offer for the shares of NTS ASA (the owners of NRS) will be accepted.
"The negotiating companies have interests in the aquaculture industry, both in Norway, in the Westfjords in Iceland and in offshore operations. The merge would lead to synergistic effects," says in the announcement. THe merge can mean is a lot of opportunities in Iceland to improve the business both offshore and on land, when it comes to junvenile fish farming, processing and selling.
Arnarlax and Arctic Fish have been cooperating for a long time and will continue to do so. Talks of a merge has been in the books for quite some time, but in the announcement it is not specified whether the companies will operate as one business unit in the Westfjords in the future.
