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The board of Norwegian aquaculture large NTS, together with its monetary advisor Pareto Securities, is unanimously recommending shareholders promote their shares to salmon farmer SalMar.

“After completely assessing the phrases and circumstances of the provide and taking into consideration the evaluation from Pareto Securities, as monetary advisor to the corporate, the board believes that the provide displays the monetary and strategic worth of NTS and recommends that shareholders in NTS settle for the provide,” the group stated in a press release.

“The board’s advice is unanimous.”

Nonetheless, the board encourages the shareholders of NTS to evaluate the provide themselves in gentle of their very own state of affairs, as this can be totally different for particular person shareholders, it stated.

SalMar has already secured advance acceptance of greater than 50 p.c of the shares in a bid that costs NTS at round NOK 15.1 billion (€1.6 billion/$1.7 billion).

Rorvik-based NTS Group operates salmon farming firm SalmoNor, in addition to service boats and properly boats by the corporate Froy, wherein it owns 72 p.c.

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NTS can be the principle proprietor of Norway Royal Salmon (NRS), which in flip is the principle proprietor of Icelandic Arctic Fish.

Helge Gaso and his household are the principle homeowners of NTS with 37 p.c of the shares.

In February, SalMar submitted a bid for NTS of NOK 120 (€11.90/$13.50) per share.

SalMar’s provide is within the type of 20 p.c money and 80 p.c SalMar shares, and values the fairness capital of NTS at roughly NOK 15.1 billion (€1.5 billion/$1.7 billion).

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