Norway Pays $254M To Boost Cermaq Stake As PE Deal Looms

Law360, New York (June 25, 2013, 1:36 PM EDT) -- The Norwegian government paid about $254 million to lift its stake in fish farmer Cermaq ASA to nearly 60 percent, it said Tuesday, days after silencing a hostile $1.7 billion buyout bid from a rival in favor of a partial private equity takeover.

Norway bought 14.46 million more shares, bringing its holding to 59.2 percent, up from 43.5 percent. As Cermaq's single-largest shareholder, the government took swift action to thwart Marine Harvest ASA's unsolicited bid with an even heftier stake, effectively ruling out the company's proposed...
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