Sector News

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

March 3, 2016
Food & Drink

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

comments closed

Related News

February 4, 2023

Unilever names FrieslandCampina’s Hein Schumacher as next CEO

Food & Drink

Schumacher will replace Alan Jope, who announced his decision to retire last September, less than a year after a failed attempt by Unilever to buy GlaxoSmithKline’s consumer healthcare business and just months after activist investor Nelson Peltz joined the company’s board.

February 4, 2023

Tetra Pak execs flag plant-based ice cream development hurdles as indulgent offerings expand

Food & Drink

Globally, plant-based ice creams have doubled their share of the market over the last five years, according to Tetra Pack. Pea protein and coconut milk are leading the way, but Tetra Pak cites data showing that oat-based ice cream launches have doubled in the previous year.

February 4, 2023

Examining the meaning of eco-labels: Is it time for mandated methodology?

Food & Drink

A myriad of so-called eco-labels are being rolled out across various F&B products, but with no gold standard or strict rules governing precisely what the logos mean and what methodology is behind them, concerns are growing that they will confuse consumers and ultimately be counterproductive.

How can we help you?

We're easy to reach