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RNS - Grieg Seafood ASA divests its operations in Finnmark, Newfoundland and British Columbia

Company: Grieg Seafood Date: 2025-07-17 Language: English Register to download

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 Grieg Seafood ASA divests its operations in Finnmark, Newfoundland and British Columbia

# Grieg Seafood ASA divests its operations in Finnmark, Newfoundland and British Columbia

Today (17 July 2025), Grieg Seafood ASA ("Grieg Seafood" or the "Company") has  

entered into an agreement with Cermaq Group AS ("Cermaq") regarding the sale  

of Grieg Seafood's operations in Finnmark and Canada (the "Transaction"). The  

Transaction comprises all operations in the mentioned regions, which are  

valued at a total Enterprise Value (EV) of NOK 10.2 billion on a cash- and  

debt- free basis, assuming a normalised level of net working capital. The  

Transaction will take place by transfer of the shares in Grieg Seafood  

Finnmark AS, Grieg Seafood Newfoundland AS and Grieg Seafood Canada AS to  

Cermaq.  

  

Completion of the Transaction is subject to certain customary conditions,  

including approval from relevant competition authorities. The Transaction is  

expected to close within Q4 2025, depending on processing time with relevant  

competition authorities.  

  

Prior to completion of the Transaction, the Company will undergo an internal  

reorganisation whereby licences and biomass currently owned by the subsidiary  

Grieg Seafood Norway AS will be demerged into Grieg Seafood Rogaland Sjø AS  

and Grieg Seafood Finnmark Sjø AS (which will be part of the Transaction).  

  

Following the Transaction, Grieg Seafood ASA will maintain its strong position  

in Rogaland with a guided harvest volume in 2025 of 30,000 tonnes (GWT) and  

well-invested platform for further growth driven by the successful post-smolt  

strategy in the region.  

  

Please see the attached presentation for details on the Transaction as well as  

operational- and organisational structure following the Transaction.  

  

Further information on the revised strategic direction of Grieg Seafood ASA  

will be communicated during the Q2 presentation on 26 August 2025.  

  

DNB Carnegie, a part of DNB Bank ASA, is acting as financial advisor and  

Wikborg Rein Advokatfirma AS is acting as legal advisor to Grieg Seafood ASA  

in connection with the Transaction.  

  

Conference call:  

Grieg Seafood ASA will host the following conference call:  

Call for investors, analysts and stakeholders on 17 July at 08:30 CEST -  

Meeting details are attached below.  

  

Link:  

https://teams.microsoft.com/l/meetup-  

join/19%253ameeting\_NGY2ZmE1MTQtYmU1YS00ZWVlLTg5NjktOGEyNDg1ZjgxZDFj%2540thread  

.v2/0?context=%257b%2522Tid%2522%253a%2522af650eaa-f166-4048-8a86-  

c1bed50150a1%2522%252c%2522Oid%2522%253a%252272e58720-04f2-427b-89e8-  

99f4797e511b%2522%257d  

  

Meeting details:  

Møte-ID: 382 081 361 800 3  

Passord: pE24Zc6V  

  

For investor inquiries, please contact:  

Nina Willumsen Grieg, Interim CEO  

Phone: +47 953 39 161  

Email: nina.grieg@griegseafood.com  

  

Magnus Johannesen, CFO  

Phone: +47 959 13 243  

Email: magnus.johannesen@griegseafood.com  

  

The information included in this announcement is classified as inside  

information according to article 7 of the Market Abuse Regulation and is  

publicly disclosed in accordance with article 17 of the Market Abuse  

Regulation and section 5-12 of the Norwegian Securities Trading Act  

  

The stock exchange announcement was published by Magnus Johannesen, CFO, Grieg  

Seafood ASA, on 17 July 2025 at 06:30 CEST.  

  

About Grieg Seafood ASA  

Grieg Seafood ASA is one of the world's leading salmon farmers.  

  

Following completion of the Transaction, our operations will have a more  

geographically focused footprint in southwestern Norway with farms located in  

Rogaland and headquarters in Bergen.  

  

Grieg Seafood ASA will remain listed at the Oslo Stock Exchange.  

  

Sustainable farming practices are the foundation of Grieg Seafood's  

operations. The lowest possible environmental impact and the best possible  

fish welfare is both an ethical responsibility and drive economic  

profitability.  

  

To learn more, please visit www.griegseafood.com

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