The family behind Norway-based Grieg Seafood has announced changes to the ownership of the salmon processor.
The Grieg Group owns 50.17% of the shares in the publicly listed Grieg Seafood through a holding company called Grieg Aqua.
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A statement issued to the Oslo Stock Exchange said the Grieg family has decided to divide the assets of the Grieg Group.
The Willumsen Grieg family branch and the Grieg Foundation are to take over the group’s majority stake in Grieg Seafood held through Grieg Aqua.
A deal has been struck for Belgian investment company Ackermans & van Haaren to acquire a stake in the Grieg Aqua holding company.
The transaction, which is expected to be finalised in the final quarter of the year, will give AvH a 37.5% stake in Grieg Aqua, making the investor a co-owner of the entity alongside the Grieg family and the Grieg Foundation.
AvH said it had agreed to invest €93m (US$107.8m) for its stake in Grieg Aqua, which will continue to own 50.17% in the Grieg Seafood.
“Grieg Seafood ASA is not a party to these transactions but views the development positively. The professional and long-term ownership represented by Ackermans & Van Haaren and Willumsen Grieg, provides a solid foundation for Grieg Seafood ASA’s future strategic execution,” Grieg Seafood said in a brief statement.
In a separate statement, AvH said: “This investment provides AvH with an opportunity to invest into Norway’s world-leading salmon aquaculture ecosystem alongside an entrepreneurial family with deep sector expertise.
“It also represents an important step in AvH’s ambition to further develop a meaningful food and agri platform, building on the group’s long-standing investment in SIPEF.”
Belgium-based SIPEF, which is listed on the Euronext, focuses on the cultivation of palm oil in Southeast Asia.
In a statement, the Grieg family said: “The shareholders in the Grieg Group have for some time considered how we should pass ownership on to the next generations. We have now decided that a division of ownership will be best for both value creation in the companies we own and for us as a family.”
