Sector News

Fredriksen nets $510m from sale of 8.4% in Marine Harvest

March 3, 2016
Consumer Packaged Goods

Geveran Trading, an investment company controlled by Norwegian-born billionaire John Fredriksen and his family, sold 8.4% of its shares in Marine Harvest.

According to an announcement from Marine Harvest on Wednesday, Geveran sold 3.7.8 million shares at NOK 117 a piece, netting Fredriksen NOK 4.42 billion ($510.04 million).

The plan had been announced earlier on Wednesday.

Following the placement, Geveran owns 79,551,603 shares in Marine Harvest, the world’s largest salmon farmer, representing 17.67% of the share capital and voting rights.

Subject to certain customary exceptions, Geveran has undertaken not to dispose of any shares in the company within 180 days following the offering without the prior written consent of Morgan Stanley, which acted as sole book-runner.

Carnegie Investment Bank acted as co-lead manager in connection with the placement.

“Geveran is committed to the future long-term development of Marine Harvest,” according to the statement.

Source: Undercurrant News

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