DNB Markets raises the price target on Grieg Seafood from NOK 90 to NOK 100 and, according to TDN Direkt, repeats its buy recommendation on the share.
On Wednesday, the share is traded for NOK 88.995, up 7.7 percent.
On Tuesday night, it was announced that Scottish Sea Farms, which is owned 50/50 by Lerøy Seafood Group and SalMar, has signed an agreement to buy 100 percent of the shares in Grieg Seafood Hjaltland UK Ltd. from Grieg Seafood.
The purchase price on a debt- and cash-free basis is set at 164 million British pounds, corresponding to around 1.94 billion kroner.
Grieg Seafood Hjaltland UK is a vertically integrated salmon farmer in Scotland with operations in Shetland and the Isle of Skye. The company has 21 active sea locations, a smolt plant and a slaughterhouse.
The acquisition will be financed with new equity from the owners and debt. The transaction is expected to be completed by the end of the fourth quarter of 2021, subject to approval by the relevant authorities and normal conditions for implementation.
- Farming company specializing in Atlantic salmon.
- Headquartered in Bergen.
- CEO is Andreas Kvame.
- Has a target for a harvest volume of 130,000 tonnes by 2025. The total harvest volume in 2020 was 87,000 tonnes, and they have a target of 80,000 tonnes in 2021.
- The largest shareholder is Grieg Aqua, where Elisabeth Grieg is chairman of the board.
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