Norwegian seafood producer Marine Harvest has taken an 11.92% stake in peer Aker Seafoods.
Marine Harvest purchased 5.8m shares at NOK46.28 (US$9.01) per share.
The purchase signals the conclusion of a previous forward contract which expires on 26 June, the Norwegian fish farmer said.
With the purchase Marine Harvest becomes joint second-largest shareholder in Aker Seafoods. According to Aker Seafoods, Aks Egenhandelskonto also holds 11.92% of the company. Aker Seafoods Holding is the largest shareholder with 64.95% of outstanding shares.
Marine Harvest has however remained tight-lipped on the strategic motivation behind the move. Speaking to just-food today (27 March) Henrik Heiberg, vice president, finance and treasury, would only say that it was a “financial investment”.
Heiberg declined to comment on whether Marine Harvest planned to increase its stake in the future.