On Monday, Norwegian aquaculture service business Froy (FROY.OL) and Goldman Sachs Asset Management (GSAM) announced a cash offer of 6.6 billion Norwegian crowns ($598.8 million).
GSAM said it would buy a 72% stake in Froy from a salmon farmer Salmar (SALM.OL) unit for 76.50 crowns per share and bid for the balance at the same price.
Froy’s share price rose almost 50% to 72 crowns on Friday after Salmar announced it sought purchasers in January.
Froy’s well boats and other vessels transport fish farmers and aquaculture enterprises.
“Wellboats and service vessels are vital to enabling best-in-class farming practices and Froy is at the forefront of driving sustainability,” GSAM Global Co-Head of Infrastructure Tavis Cannell said in announcing the offer.
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