Mowi buys shares in Arctic Fish

The Norwegian aquaculture giant Mowi is planning to buy shares in Arctic Fish for 26 billion ISK. After the acquisition Mowi will be in control of 51.28% of Arctic Fish shares.

The purchase goes through only a month after the Norwegian government announced its intention to impose a 40% resource tax on fisheries in Norway and the exchange rate of shares of aquaculture companies located there went down considerably as a result. Mowi’s shares, in particular, dropped by almost 20%.

Arctic Fish will grow even stronger

In an announcement from Mowi it says that the company has been monitoring Arctic Fish for the past few years and it is impressed with its success. “Icelandic salmon farming is heading for a massive development and growth in the years to come and we are extremely pleased with the opportunity to participate,” says Ivan Vindheim, Mowi’s managing director.  

Vindheim says Arctic Fish fits Mowi's operations exceptionally well, and that with Mowi on board, Arctic Fish will grow even stronger.

The purchase is conditional upon the European Commission’s approval.

From the salmon farming of Arctic Fish in Dýrafjörður in the Westfjords of Iceland. Photo/Ágúst Atlason