Advertisement

News

NORWAY - Second bidder emerges for EWOS

Cermaq has received a second competitive bid for EWOS which is being considered along with the original offer from Altor and Bain Capital
July 11, 2013

As reported last month (NORWAY - Investor group bids for EWOS - by Aquafeed.com Staff, 06/17/2013) Cermaq received an offer of  NOK 6.2 billion for EWOS from investor group Altor and Bain Capital - an offer Cermq assessed at 10 times the market consensus EBIT for EWOS in 2013. Cermaq provided the investor group with three weeks of exclusive access to EWOS management. This exclusivity period has now lapsed, but the company said negotiations are ongoing and progressing in accordance with agreed and expected timelines. 

In addition, Cermaq has received another competitivebid for EWOS which will be pursued in parallel.

The aim remains to have a definitive agreement for the sale of EWOS executed in mid-July. An extraordinary general meeting to authorize the sale is scheduled for 11 July 2013.