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Following the transaction, the buyer, Asset Buyout Partners, will lease it back to Andfjord Salmon under an 80-year contract.

The Norwegian company has secured an equity injection of NOK 400 million to fund part of the updated CAPEX.

Previously, he was the Country Director for the Norwegian Seafood Council in Portugal.

Andfjord Salmon recently announced a revised build-out plan that will increase production capacity at the Kvalnes site by 20%.

The Norwegian land-based aquaculture company completed a successful private placement this week, and is contemplating a subsequent offering of shares valued at NOK 60 million.

The Canadian seafood company has indicated it will invest upwards of $16 million in the two Norwegian fish farming companies in the coming weeks.