Bakkafrost targets Scottish fish farming industry

Faroese salmon farming company Bakkafrost is about to expand its business activities into Scotland.

The Glyvrar-based company yesterday signed a binding agreement to acquire a 68.6-percent share in The Scottish Salmon Company from owners Northern Link Ltd.

With an annual production of 30,000 tonnes, The Edinburgh-based firm is the second-largest salmon farming company in Scotland.

A deal worth DKK 2.8 billion

The shares are being traded on the Oslo Stock Exchange for 28.25 Norwegian kroner (DKK 21.25) per share.

Bakkafrost’s planned acquisition of 133,125,109 shares in the Scottish company is estimated at just over DKK 2.8 billion.

The Scottish Salmon Company is valued at DKK 4,300,000,000. Its farming activity is primarily based on the west coast of Scotland.

Translated by prosa.fo