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Marine Harvest ASA to Change Conditions for Voluntary Offer for Cermaq ASA


Wednesday, 15 May 2013 02:12am EDT 

Marine Harvest ASA announced that the Company will remove the previously announced condition that the Company's bid for Cermaq will require acceptance for the sale of the government's shares. Instead, the Company intends to implement a condition of acceptance from 33.4% of all shareholders. Marine Harvest sees it as unfortunate if the government's previously announced support of the Copeinca transaction should prevent other Cermaq shareholders from considering a bid for the company. If the Annual General Meeting of Cermaq votes down the Copeinca transaction, the private shareholders will be able to consider, accept and have settled an offer from Marine Harvest, without reference to the actions of the Government. If the Annual General Meeting votes in favor of the Copeinca transaction, Marine Harvest will divest its shares in Cermaq and focus on its further organic development. Prior to the announcement 30 April, Marine Harvest was informed that the Board of Cermaq, the Norwegian Government and the Norwegian State Pension Fund, had all entered into legal agreements committing them to support the Copeinca transaction. The Norwegian Parliament has in a resolution of 14 May approved the proposal of the government to vote in favor of the Copeinca transaction. This should be read in the context of the above; and is in line with the requests the government has made in order to be able to fulfill its prior obligations. 

Company Quote

89.6
1.75 +1.99%
19 Sep 2014