July 18, 2013 / 1:57 PM / 4 years ago

Bain, Altor raise bid for Cermaq unit to $1.1 bln to clinch deal

OSLO, July 18 (Reuters) - Private equity firms Bain Capital and Altor increased their offer for fish farmer Cermaq’s EWOS processing unit to 6.5 billion crowns ($1.08 billion) from 6.2 billion to clinch a deal after a month of talks, Cermaq said on Thursady.

“Cermaq has today entered into a definitive share purchase agreement with Altor and Bain Capital regarding the sale of EWOS,” Cermaq said in a statement.

After the close of the deal, Cermaq expects to pay out 4.5 to 5 billion crowns or 48-54 crowns per share in an extraordinary dividend.

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