Røkke sells out of fishing

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Norwegian industrialist Kjell Inge Røkke, who made his fortune fishing off the coast of Alaska, has agreed to sell his controlling stakes in both the Havfisk and Norway Seafoods companies to Norwegian giant Lerøy. Røkke claimed he was “impressed” with what the owner of Lerøy, Helge Møgster, has built up.

Newspaper Dagens Næringsliv (DN) reported late last week that Lerøy will buy the 64 percent stake in Havfisk, which specializes in cod, pollack and haddock, and the 74 percent of Norway Seafoods held by Røkke’s Aker firm. The deal is valued at NOK 3.2 billion (USD 400 million) and will give Aker an accounting gain of NOK 1.6 billion. Lerøy also intends to make an offer to the remaining shareholders in Havfisk and Norway Seafoods.

Lerøy stated in a press release that the deal will strengthen its position in the European white fish segment. Havfisk is Norway’s largest fishing company for white fish, holding around 11 percent of the country’s total white fish quotas. Norway Seafoods, which specializes in salmon, has been one of Norway’s largest seafood companies, with operations in Norway and Denmark.

newsinenglish.no staff