TOKYO (dpa) – Japan’s Mitsubishi Corp said Monday that it launched a cash offer of 1.4 billion dollars to acquire Norwegian salmon producer Cermaq ASA.
Cermaq’s executives unanimously supported the offer.
“Together Cermaq and Mitsubishi Corporation will become the world’s second largest salmon farming company, set for further sustainable growth,” board president Rebekka Glasser Herlofsen said.
It is the world’s third-largest salmon farming company, with operations in Chile, Canada and Norway, producing about 170,000 metric tons of annually, Mitsubishi said.
Mitsubishi “will combine the production know-how, business foundation accumulated in the food sector with Cermaq’s scale and sector expertise to expand globally in the seafood business”, the Japanese company said.
People walk past Mitsubishi Motor Corp’s headquarters in Tokyo, Japan, on September 12, 2013. Mitsubishi Corp said that it launched a cash offer of 1.4 billion dollars to acquire Norwegian salmon producer Cermaq ASA – AFP