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Deal completion comes as Grieg restructures and Mitsubishi's Cermaq expands.

Following the sale, valued at NOK 10.2 billion, Grieg will focus its operations solely on its best-performing Rogaland region in southwestern Norway.

The feeding period will begin in May and the new feed will be offered to salmon close to harvest size.

“Our industry’s future appears increasingly dictated by out of touch Ottawa political priorities” stated Cermaq Canada in their communiqué.

Presenting the Q4 results, CEO Nina Willumsen Grieg outlined the company's strategic shift from global growth to regional profitability, including land-based post-smolt investment.