Norway has a unique tradition and expertise in aquaculture and is one of the world’s largest suppliers of seafood. With offices in both Stavanger and Trondheim, our team is in close proximity to operational businesses and decision-makers. We assist with regulatory issues, also in complex construction projects. As a full-range supplier in the industry, we have the breadth of understanding required to provide sound strategic advice to our clients.

Advice from our lawyers

We assist clients with questions related to the awarding of and compliance with licenses, as well as government orders and sanctions in the aquaculture, food and supplier industries. We provide assistance with the following:

  • regulatory advice related to framework legislation and the licensing system
  • application processes
  • negotiations and contracts
  • transactions, consolidation and merging
  • dispute resolution and litigation

The aquaculture industry is characterised by a high level of innovation and technological development, ranging from small start-ups cultivating kelps, to established fish farming companies planning to build net cages on land or at sea. We assist clients in all parts of the value chain, from genetics companies and gene banks, concerning roe, smolt, post smolt and edible fish, to companies handling fish waste. We have considerable experience from all parts of the aquaculture industry. This allows us to quickly get a clear overview of the situations our clients find themselves in, resulting in an optimum level of collaboration.


In recent years, Arntzen de Besche has been a preferred advisor in several major transactions in the aquaculture industry. We work closely with specialists in dispute resolution and M&A, and have extensive and broad expertise in acquisitions/divestments, emissions, initial public offerings and next-generation transitions. We are also regularly called upon to help with business financing, restructuring and reorganisation.

What you can expect from us

We are a team with extensive and operational experience from all aspects of the aquaculture industry. This allows us to provide technical, legal and project-related advice that quickly takes you where you want to go.

You will be assigned one main contact person. We designate the lawyer or the team best suited to helping you. In summary: With us, you will always have the right expert on the right assignment at the right time.


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28 September 2022

Introduction of source rent taxation for the aquaculture industry

The Norwegian government today introduced a proposal to subject aquaculture to a new source rent taxation regime. Until now, the industry has only formed part of the ordinary corporate income tax regime (in addition to a certain minor special duties).

What we have done

Arntzen de Besche has assisted Nutreco in a strategic investment in Andfjord Salmon

Animal research and nutrition specialist Nutreco and the Norwegian seafood group Holmøy are taking part in a private placement in Andfjord Salmon. In addition, Andfjord Salmon has entered into an operational feed supply agreement with Nutreco’s aquaculture business line, Skretting. We are proud to assist Nutreco as legal advisors in this process.

Arntzen de Besche assists Nordlaks with the hydra innovation project

We are proud to assist Nordlaks with another exciting and complex innovation project. Hydra is a semi-closed production tank for aquaculture. The technology was invented and designed in Norway, and will be built in Turkey by the Gemak shipyard group from the summer until delivery in the first quarter of 2024.

Arntzen de Besche asissts NTS in transaction with Norway Royal Salmon

Salmon farmers NTS and Norway Royal Salmon (NRS) have entered into a transaction agreement with the aim of merging NRS with NTS' wholly owned fish farming company SalmoNor. Arntzen de Besche assists NTS as legal advisor in this transaction, which creates the world's sixth largest salmon farming company.

Arntzen de Besche assisted NTS ASA with the acquisition of Norway Royal Salmon ASA

In July 2021 NTS ASA made a mandatory offer of 100% of the shares in Norway Royal Salmon ASA of NOK 209 per share. This was later increased to NOK 240 per share, which priced all shares in the company at NOK 10.4 billion. The acceptance deadline expired on 26.08.21, and NTS ASA received acceptances that together with already owned shares mean that NTS ASA owns approximately 70.6% of the outstanding shares in Norway Royal Salmon ASA.

Arntzen de Besche has assisted NTS ASA with a bid for Norway Royal Salmon ASA

NTS ASA has today submitted a bid for all shares in Norway Royal Salmon (NRS). With a price of NOK 209 per share, the bid ends at NOK 9.4 billion, almost two billion more than the marked value before the bid was submitted. Arntzen de Besche has been legal advisor in this bid which is the latest in a number of large and complex transactions where they have assisted NTS ASA, most recently by merger with Salmonor AS, announced on 2 June 2021, with a value of approximately NOK 3 billion.

Arntzen de Besche congratulates Frøy ASA on its IPO at Oslo Stock Exchange

Arntzen de Besche has assisted FRØY ASA in connection with its initial public offering and listing on the Oslo Stock Exchange. The company recently completed a public offering valuing the Company at approximately NOK 5.2 billion and is expected to commence trading on the Oslo Stock Exchange (OSEBX) as of 29 March 2021, with the ticker “FROY”.

Arntzen de Besche has assisted Ice Fish Farm AS in connection with private placement, secondary sale and admission to trading on Merkur Market

On Friday 5 June, Ice Fish Farm AS was admitted to trading on Merkur Market, a multilateral trading facility operated by Oslo Stock Exchange. In connection with the admission to trading, Ice Fish Farm raised NOK 301.5 million in a private placement, in addition to a secondary sale of NOK 89 million from existing shareholders. The private placement attracted very strong interest in the market and was multiple times oversubscribed.

NTS merges with Frøy Gruppen

The Board of Directors in OSE-listed company NTS ASA has entered into an agreement with Gåsø Næringsutvikling AS to merge with Frøy Gruppen. Arntzen de Besche has been legal advisor to both parties in the transaction.


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