July 11, 2013 / 9:17 AM / 5 years ago

Cermaq shareholders approve sale of fish feed arm

OSLO, July 11 (Reuters) - Norwegian fish farmer Cermaq’s shareholders on Thursday voted in favour of selling its fish feed arm, EWOS, it said in a statement.

The state-controlled company said on Monday it had received a rival indicative bid for the unit that is higher than the 6.2 billion-crown ($1.0 billion) bid from private equity firms Bain and Altor.

Last month the Norwegian state spent 1.56 billion crowns on increasing its stake in Cermaq to 59.17 percent from 43.5 percent, just days after fending off a $1.7-billion hostile bid by its bigger local rival Marine Harvest.

Cermaq has said it aims to have a definitive agreement for the sale of EWOS executed in mid-July.

$1 = 6.1281 Norwegian crowns Reporting by Victoria Klesty; Editing by Elaine Hardcastle

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