NORWAY: Austevoll offers price for Lerøy shares
By: just-food.com | 14 October 2008
Norwegian company Austevoll Seafood is to buy the remaining shares in Lerøy Seafood Group, after raising its stake in the company to 43.42%.
Austevoll today (14 October) acquired an additional 5.4m shares in Lerøy at a price of NOK59 (US$9.58) per share, raising its stake to 23.3m shares.
On 25 September, Austevoll purchased 4,500 shares in Lerøy at the same price of NOK59 per share.
This acquisition triggered the threshold for a mandatory offer under the Norwegian Securities Trading Act.
The offer to the shareholders of Lerøy will be sent at the latest on 22 October, in compliance with the time limit of four weeks set out in the Act.
The company said its clear aim and intention is to contribute to the development of Lerøy through further consolidation in the industry.
Lerøy, with its local presence and unique global sales distribution, is well positioned to participate in the development of the salmon industry, Austevoll added.
Sectors: Meat & poultry, Seafood
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