AKVA Group - M&A Activity 2020 | FinancialReports.eu

AKVA group ASA: AKVA group ASA enters into agreement to acquire Newfoundland Aqua Service Ltd.

AKVA group ASA ("AKVA") has signed a share sale and purchase agreement with the

majority shareholders of Newfoundland Aqua Service Ltd. ("NAS") to acquire

approximately 70 % of the common shares in NAS (the "Transaction"). AKVA and the

majority shareholders of NAS have also agreed a mutual option to buy/sell

additional 28.5 % of the shares in NAS. The option is exercisable in a limited

period in 2023.

NAS is the leading supplier of fish farming services in Newfoundland and

Labrador on the east coast of Canada, offering both net services on land and

marine services at sea to the fish farmers in the region. The Transaction will

significantly strengthen AKVA's presence in a region with significant growth

projections for salmon farming in the years to come, and is an important step in

AKVA's ambition to become the preferred aquaculture technology and service

provider on the east coast of Canada. The Transaction is expected to yield

synergies with AKVA's existing service operations in the region, as well as

better position AKVA for sale and delivery of systems and solutions across the

pen based product portfolio.

Completion of the Transaction is subject to fulfilment of certain customary

completion conditions and completion is expected during Q1 2020.

Dated: 30 January 2020

AKVA group ASA

Web: www.akvagroup.com

CONTACTS:

Knut Nesse Chief Executive Officer

Phone: +47 51 77 85 00

Mobile: +47 91 37 62 20

Simon Nyquist Martinsen Chief Financial Officer

Phone: +47 51 77 85 00

Mobile: +47 91 63 00 42

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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