Goldman Sachs Asset Management makes $600 mln bid for Norway's Froy
05/06/2023 06:49
OSLO, June 5 (Reuters) - Goldman Sachs Asset Management
(GSAM) has offered 6.6 billion Norwegian crowns ($598.8 million)
in cash to buy Norwegian aquaculture service group Froy
FROY.OL , the two companies said in a statement on Monday.
GSAM said it had reached a deal to buy a 72% stake in Froy
from a unit of salmon farmer Salmar SALM.OL for 76.50 crowns
per share, and will make a bid for the rest of the shares at the
same price.
Salmar in January this year said it was seeking potential
buyers for the stake, and Froy's share price has since risen by
almost 50% to close at 72 crowns on Friday.
Froy's fleet of specialised wellboats and other vessels
provides maritime transportation services to fish farmers and
other aquaculture companies.
"Wellboats and service vessels are vital to enabling
best-in-class farming practices and Froy is at the forefront of
driving sustainability," GSAM Global Co-Head of Infrastructure
Tavis Cannell said in a statement announcing the offer.
($1 = 11.0213 Norwegian crowns)
(Reporting by Terje Solsvik; Editing by Kim Coghill)
((terje.solsvik@thomsonreuters.com; +47 918 666 70))