The acquisition will be financed through a private placement of 280 mln new shares in Pan Fish to Geveran Trading.
The subscription price is 4.36 nkr per share, corresponding to the share price of Pan Fish at close of trade on March 3.
The private placement represents about 17 pct of the share capital in Pan Fish after completion of the placement.
The transaction value is 1.3 bln nkr, based on the market value of Fjord at close of trade on March 3.
After this transaction, Geveran Trading holds no shares in Fjord Seafood and 934 mln shares in Pan Fish, or about 56 pct of the shares and votes of Pan Fish.
Pan Fish holds 151.76 mln shares in Fjord Seafood, equal to 25.7 pct of the shares and votes of Fjord Seafood.
Earlier today, Geveran Trading, which bought Marine Harvest from Nutreco Holding NV and Stolt-Nielsen SA, offered Pan Fish the option to buy Marine Harvest. michael.delaine@afxnews.com mdl/cmr COPYRIGHT Copyright AFX News Limited 2005. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News. AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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