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Austevoll Seafood ASA Buys Remaining 50% In Welcon Invest AS For NOK740 Million From Origin Enterprises PLC-DJ


Thursday, 4 Jul 2013 01:50am EDT 

Dow Jones reported that Austevoll Seafood ASA said it has signed an agreement to buy the remaining 50% of shares it doesn't already own in Welcon Invest AS (Welcon) for NOK740 million. Austevoll will thereby own 100% of the company. Austevoll will buy 30,000 shares in Welcon from Origin Enterprises PLC. Welcon will no longer be a jointly controlled company and will become a subsidiary of the Austevoll group. The shares will be paid for in cash and will be financed by drawing on the Company's existing credit lines. Completion of the transaction is expected to take place shortly after the transaction has been cleared with the relevant authorities. Welcon is involved in the production of fishmeal, protein concentrate and oil in Northern Europe. The company has production facilities located in Norway, U.K., and Ireland. 

Company Quote

38.4
-0.4 -1.03%
20 Aug 2014