OSLO – 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.
To read the rest of the story, please go to: Reuters
