Norway's Grieg Seafood has finalized its acquisition of Grieg Newfoundland on the east coast of Canada, the company announced in a stock exchange filing.
The sellers are led by a company controlled by Per Grieg Jr, also the main shareholder and chairman of Grieg Seafood. The final acquisition, setting Grieg back NOK 539 million ($51m), will be completed via an upfront payment of NOK 289m, combined with the issuance of new shares in the company to the sellers of Grieg Newfoundland covering the remaining NOK 250m sum.
Although the subscription period for the private placement had expired thanks to a two-week extension to the deal, Grieg has announced its plans to issue another 1.78m new shares to the sellers, Grieg Aqua, Kvasshogdi and Knut Skeidsvoll. Each share is priced at just over NOK 140 [...]
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