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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.

The merger includes Gåsø Næringsutvikling’s 6.993.188 shares in the Oslo Stock Exchange listed company Norway Royal Salmon ASA, which represent 16.05 % of the shares in Norway Royal Salmon ASA. Post completion NTS will be the largest shareholder in Norway Royal Salmon.

Through the transaction, NTS will significantly strengthen its position both in salmon farming and in services to the aquaculture industry. Upon completion of the transaction, NTS will own 66 service vessels, 16 well boats and 4 ships in maritime transport (numbers including newbuildings).

Completion of the transaction is subject to approval at the extraordinary general meeting of NTS ASA, standard reservations related to, among other things, due diligence and approval from the Competition Authority. The stock exchange notification is available here (in Norwegian).

The team from Arntzen de Besche has consisted of Jon Martin Atkinson, Steffen G. Rogstad, Anders Dyrseth, Marianne Sahl Sveen, Aleksander Rygh Pedersen, Svein Terje Tveit and Line Hoven.

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