Cermaq Pockets $1B In Sale Of Prized Unit To Bain, Altor

Law360, New York (July 18, 2013, 3:55 PM EDT) -- Cermaq ASA will unload its prized fish-feed unit to a buyer group including Bain Capital LLC and Altor Equity Partners in a deal worth $1.1 billion, it said Thursday, ending a saga that forced the Norwegian fish farmer to upend its strategic plan.

Under the deal's terms, Bain and Altor will pay the consideration in cash when the deal closes, expected by the end of October. The firms did not spell out their financing plans or say how they would divide ownership of Cermaq's Ewos unit,...
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