Mowi has launched a bid to acquire 100% of NTS at a price of NOK 110 (€10.85) per share.
Mowi has followed the NTS Group for several years and is impressed by how the employees, management team and owners have developed the NTS Group into one of the leading producers of Atlantic salmon in Norway and Iceland.
“NTS’s geographical footprint and competent organisation fit unusually well with Mowi’s current operations and strategy,” said Ivan Vindheim, chief executive of Mowi.
“Together we can maintain and create new jobs and further develop competence clusters along the Norwegian coastline for the benefit of local communities,” he added.
From a strong foundation in central Norway, the NTS Group has grown into a fully integrated salmon farmer, producing 84,000 gutted weight tonnes (GWT) across Norway and Iceland. The NTS Group also holds 7.7 development licences in Arctic Offshore Farming, and the aqua service company Frøy.
Last summer NTS successfully outbid Mowi (and SalMar) to acquire SalmoNor, which is now the subject of another takeover by Norway Royal Salmon.
The offer is for all shares in NTS, currently valued at NOK 13.8 billion (€1.36 billion). The complete details of the offer will, if launched, be sent to NTS shareholders following review and approval by Oslo Stock Exchange. SpareBank 1 Markets is acting as financial advisor to Mowi.
