Grieg Seafood ASA - Acquires two production licenses/sites in Shetland

Grieg Seafood's subsidiary Grieg Seafood Hjaltland has entered into an agreement to acquire two salmon farming companies (Skelda Salmon Farms Limited and G Duncan (Salmon) Limited), reports www.megafishnet.com with reference to Grieg Seafood.

The two companies together hold 2 production licenses/sites as well as farm equipment. The combined discharge consent of the two sites is 2.100 tonnes, which corresponds to a harvest volume of appr. 2,300 tonnes gwe per generation. The two sites are located on the south-west coast of Shetland, in one of Grieg Seafood Hjaltland's existing production areas in Shetland and therefore fit very well with Grieg Seafood Hjaltland's existing operational structure.

The two sites are currently not stocked, but will be stocked in the spring of 2012 in accordance with the Area Management Agreement of this production area. The acquisition price for the two licenses is GPM 2.19m (NOK 19.5m).