Markets Archive

Shareholders in Australian salmon farmer Huon Aquaculture have voted in favour of the takeover bid from multinational meat processor JBS. In an online meeting this morning, Chairman Neil Kearney set out the case for accepting the offer, which values Huon at around A$550m (£300m) means shareholders would get $3.85 per share. Australian broadcaster ABC reports…

The Japanese owned fish farming company Cermaq earned NOK 1.2 billion (£104.5m) from its Norwegian business last year, greatly boosting its value. Knut Ellekjær, who heads the operations in Norway described 2020 as a challenging year, but added that he was happy with the outcome. Cermaq is the world’s fourth largest producer of farmed salmon…

The takeover of Tasmanian salmon farmer Huon Aquaculture by Brazil’s JBS is one step closer following the announcement by Australia’s Foreign Investment Review Board (FIRB) that it has no objections to the deal. FIRB’s review of the proposed acquisition, which the Huon board supports, was part of the required approval process. JBS is a multinational…

Investment company Israel Corp has increased its stake in the AKVA Group, the Norwegian aquaculture services and equipment provider. About a month ago Israel Corp said it was taking a 15% share in the business, but yesterday that was raised to 18%. AKVA’s main shareholder, Egersund Group, will remain the majority owner. This earlier investment…

The UK Competition and Markets Authority is looking at Scottish Sea Farms’ proposed acquisition of Grieg Seafoods’ Shetland business. The CMA is calling for views to help it decide “whether it is or may be the case that this transaction, if carried into effect, will result in the creation of a relevant merger situation under…

Grieg Seafood has announced slightly lower harvests for the three months July to September this year. The Q3 figure, which came in a Stock Exchange notification, was around 20,500 tonnes against 21,200 over the same period last year. The total is made up of 6,300 tonnes in Rogaland, 9,900 tonnes in Finnmark and 4,300 tonnes…

Mowi today announced a third quarter global operating profit of around €131m euros with Scotland almost trebling its average per kilo return. The EBIT (operating profit) figure is about €5m down on what analysts had been expecting, largely due to extraordinary biological problems on both Canadian seaboards. Issues with a plankton bloom in Canada West…

Aquaculture biotechnology business Benchmark is set to outdo market expectations for its full year financial results, the company has said. In a market announcement this morning, Benchmark said that it expected to report “a stronger than expected trading performance across its three business areas” for the year to 30 September 2021. This includes continuing growth…

Two of the biggest names in Norwegian salmon farming are reporting large increases in their third quarter harvest figures. SalMar and Lerøy Seafood are co-owners of Scottish Sea Farms, but because the Scottish company is classed as an “associate business”, output details will not be released until the full third quarter reports are published next month.…

Feed giant Cargill is investing $5m in land based fish farmer Salmon Evolution, as part of a strategic deal that will also see Cargill supply all of the aquafeed for a new farm due to start production next year. Salmon Evolution’s RAS (recirculating aquaculture system) farm at Indre Harøy, Norway, is due to start production…