Norway government buys more Cermaq shares

The Norwegian government has bought 9.46 million shares in Cermaq ASA at auction, at NOK108 per share, bringing the percentage of shares owned by the State to 53.77%.

The government is also planning to buy up to 5 million more shares, at the same price, on the Oslo Stock Exchange today.

This follows the recent news that Cermaq’s shareholders rejected a bid by Marine Harvest to buy the company out.

Originally Cermaq had made an offer to buy out Peruvian fishmeal and fish oil producer Copeinca. Then Marine Harvest offered to buy out Cermaq, but on the condition that it did not continue with its bid for Copeinca. Cermaq did drop the Copeinca bid, but also rejected the Marine Harvest offer. Subsequently, Marine Harvest sold a large number of its shares in Cermaq, leaving Marine Harvest with 1.84% of the outstanding shares in Cermaq.

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