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Marine Harvest acquires Northern Harvest

Date Closed

July 3, 2018

Lead Office

Toronto

Value

315.00 Million CAD

On July 3, 2018, Marine Harvest ASA announced that it has completed the C$315 million acquisition of Northern Harvest Sea Farm Ltd., following a "no-action letter" from Canada's Competition Bureau. The acquisition will allow Marine Harvest to leverage on the fully integrated broodstock, smolt/hatchery, farming sites and processing operations of Northern Harvest Sea Farms, which will support Marine Harvest's expansion on the east coast as well as its long term strategy of being a world leading and integrated producer of seafood proteins.

Marine Harvest is one of the world's largest seafood companies, and the largest producer of Atlantic salmon in the world. Marine Harvest is headquartered in Bergen, and has operations in Norway, Scotland, Canada, the Faroe Islands, Ireland and Chile. The company is listed on the Oslo Stock Exchange and its share also trade on the US OTC market.

Northern Harvest Sea Farms is a leading East Coast Canadian salmon farmer and the oldest aquaculture company in the Americas.

Jason Gudofsky of McCarthy Tétrault LLP advised Marine Harvest on competition matters.

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