The Norwegian Competition Authority has approved today SalMar's contemplated acquisition of all outstanding shares in NTS, a merger with NRS.
Although, the merger and the offer remain still need approvals from competition authorities, including the European Commission. Also, other conditions as set out in the Merger Plan and Offer Document.
According to SalMar, the merger is conditional upon, among other things, all conditions for the completion of SalMar's recommended voluntary offer to acquire all outstanding shares in NTS ASA.
On the 30th of June, during the respective general meetings of NRS and SalMar, the merger plan was approved. On the other hand, the offer document is dated 17 March 2022.
The Norwegian Competition Authority confirmed WeAreAquaculture that has considered in its review competition concerns specific to the Norwegian market.
Also, the Authority "has not uncovered any such concerns and, after an overall assessment, has decided to not pursue the case further".
The Norway Royal Salmon (NRS) group owns 36,085 tonnes MAB for salmon farming located in Troms and Finnmark. Also, 21,800 tonnes of MAB for salmon farming, and 5,300 MAB for trout farming in Iceland. This last through the company Arctic Fish.
In addition, the group has a minority interest in two associated Norwegian fish farming companies which together own nine fish farming licenses. NRS is an attractively positioned fish farming group, which offers salmon to the market through its own sales organization.