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- Salmar Acquires Aker’s Stake in Salmar Aker Ocean for NOK 650 Million; Aker to Hold Salmar Shares
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Salmar ASA has considerably strengthened its position in the burgeoning offshore aquaculture sector by acquiring Aker’s 15 percent stake in Salmar Aker Ocean for NOK 650 million. The transaction, finalized on Thursday, march 6, 2025, involves a settlement partly in shares, resulting in Aker holding a 0.75 percent ownership in Salmar. This strategic move underscores Salmar’s commitment to offshore aquaculture, even as the initiative faces regulatory and developmental hurdles. The deal signals a major investment in the future of sea-based salmon farming.
The initial partnership between Salmar and Aker, dating back to 2021, envisioned a ample investment by Aker, committing NOK 1.65 billion into the venture. Despite the change in ownership structure, Salmar’s strategy director, Runar Sivertsen, has reassured stakeholders that the company’s ambitions for sea farming remain steadfast. When questioned about future capital investments, Sivertsen stated, There are several strategic opportunities in relation to raising capital for further investments.
Addressing concerns about potential capital contributions from Salmar’s investors, Sivertsen clarified, We will continue to develop breeding at sea, but it depends on the regulatory growth and which ramp-up we have.The need for capital will reflect how quickly this will be developed.
Offshore Initiative Faces Delays
Both Salmar and Aker acknowledge that the progress of establishing salmon farming operations far offshore has been slower than initially anticipated. Atle Kigen, communications director at Aker, explained, It has taken longer than we imagined in 2021, so after thorough assessments we have found that this is the best solution.
Kigen further emphasized that this decision aligns with Aker’s broader strategy of concentrating ownership in fewer, larger portfolio companies.
When asked about Aker’s willingness to contribute additional capital to the offshore initiative, Kigen responded, Aker is a shareholder in line with the other shareholders in Salmar, and then we have to make that decision when it comes.
Regulatory Uncertainty and Tax Concerns
Sivertsen from Salmar acknowledged the delays, attributing them partly to the slow pace of regulatory developments. As 2017, we have hoped that it would come in place faster and that marine areas would be made available earlier. As a consequence we have started to look at the potential abroad,especially Scotland as we work with parallel,
Sivertsen stated.
He also highlighted the uncertainty surrounding the basic interest tax, noting, Has also helped to create uncertainty about the tax regime at sea, especially the uncertainty associated with weather it can be introduced at a later date. The fact that we do not know what is happening in time is an uncertainty that is still behind the mirror.
Despite the change in ownership, Sivertsen affirmed that Salmar would continue to benefit from Aker’s technological expertise.
Global Ambitions remain
The strategic partnership between Aker and Salmar, forged in 2021, aimed to establish a global leader in salmon farming at sea, initially focusing on production in Norway. Salmar chief Gustav Witzøe expressed the aspiring vision at the time, stating, Together we can take the next technological leap for sea breeding, and we have a global ambition.
Aker committed up to NOK 1.65 billion to the venture,fueling optimism about the potential of offshore aquaculture.
Witzøe had previously envisioned a substantial production capacity,stating,It’s just the imagination that limits it,because the potential is great out in the open sea.But we have previously had a vision of 150,000 tonnes in 2030.
Currently, Salmar Aker Ocean operates salmon production on two semi-offshore facilities, with a target of slaughtering 9,000 tonnes in 2025. However, the part-owned company reported a loss of NOK 77 million on operations for the entirety of 2024.
Frode Arntsen of Salmar Consultancy emphasized the importance of overcoming challenges in offshore aquaculture, stating, Realizing aquaculture at sea is one of several challenges that the industry and we in SalMar must solve in order to continue to grow and produce healthy salmon on the salmon’s conditions.
He added, now in Salmar we will continue to lift Salmar Ocean to realize the significant potential that lies in offshore aquaculture.
Transaction Details and Leadership Changes
The settlement for the acquisition includes a million new Salmar shares and NOK 76 million in cash.The price of SalMar shares was set at NOK 574, exceeding the current market price of NOK 539. The transaction values Salmar Aker Ocean at NOK 4.33 billion,with Salmar now holding sole ownership.
Following the change in ownership, Roy Reite and Trine Sæther Romuld have resigned as CEO and CFO of Salmar Aker Ocean, respectively. Anders Fjellheim has been appointed as the new general manager.
The Witzøe family remains the largest owner in Salmar, while Kjell Inge Røkke is the largest owner in Aker.
Salmar’s Strategic Shift: A Deep Dive into the Future of offshore Aquaculture
Is Salmar’s acquisition of Aker’s stake in Salmar Aker Ocean a sign of the growing pains,or the burgeoning potential,of the offshore aquaculture industry?
Interviewer: Dr.Ingrid Olsen, a leading expert in sustainable aquaculture and marine economics, welcome to World Today News. The recent Salmar acquisition has sent ripples through the industry. Can you shed light on its meaning for the future of offshore aquaculture?
Dr. Olsen: Absolutely.Salmar’s acquisition of Aker’s stake, while seemingly a simple buisness transaction, actually reflects several crucial developments in the rapidly evolving offshore aquaculture sector. The move signifies Salmar’s unwavering commitment to deep-sea farming, despite the considerable challenges. It’s a bold bet on technology, innovation, and the long-term sustainability of salmon production. the high purchase price, even exceeding market value, indicates a strong belief in the venture’s future potential and inherent value.
Interviewer: Many see this move as a response to the slower-than-anticipated progress of offshore salmon farming.What are the key obstacles hindering the industry’s growth?
Dr. Olsen: Several key hurdles are slowing expansion in offshore aquaculture. Firstly, regulatory uncertainties remain a significant impediment. Obtaining permits and navigating environmental regulations frequently enough proves lengthy and complex. This includes securing access to suitable marine areas for farming operations, with concerns over potential environmental impact a major factor. Secondly, high capital expenditures are required for developing and maintaining offshore farms. this aspect necessitates substantial investment in specialized equipment, infrastructure, and technology. These high upfront costs create major financial barriers to entry for many companies. Developing robust and reliable technology for offshore installations is a critical challenge. Such technology must withstand harsh marine conditions while ensuring fish welfare and preventing environmental damage.
Understanding the Aker-Salmar Partnership Evolution and the Rationale Behind the Acquisition
Interviewer: The initial Aker-Salmar partnership was groundbreaking. what has led to this shift in ownership structure?
Dr. Olsen: Aker’s
Salmar’s Offshore Gamble: A Deep Dive into the Future of Aquaculture
Is Salmar’s recent acquisition a sign of the offshore aquaculture industry’s growing pains, or its immense potential?
Interviewer: Dr.Ingrid Olsen, a leading expert in enduring aquaculture and marine economics, welcome to World Today News. The recent Salmar acquisition has sent ripples through the industry. Can you shed light on its meaning for the future of offshore aquaculture?
Dr. Olsen: Absolutely. Salmar’s acquisition of Aker’s stake, while seemingly a straightforward business transaction, reflects several crucial developments in the rapidly evolving offshore aquaculture sector. The move signifies salmar’s unwavering commitment to deep-sea farming, despite significant challenges. It’s a bold bet on technology, innovation, and the long-term sustainability of salmon production. The high purchase price, exceeding market value, indicates a strong belief in the venture’s future potential and inherent value. This underscores their confidence in overcoming the hurdles facing this innovative industry.
Interviewer: Many see this move as a response to the slower-than-anticipated progress of offshore salmon farming. What are the key obstacles hindering the industry’s growth?
Dr. Olsen: Several key hurdles are slowing expansion in offshore aquaculture. Firstly, regulatory uncertainties remain a significant impediment. Obtaining permits and navigating environmental regulations frequently enough proves lengthy and complex, including securing access to suitable marine areas. Concerns about potential environmental impact are major factors. Secondly, high capital expenditures are required for developing and maintaining offshore farms. This necessitates ample investments in specialized equipment,infrastructure,and technology. These high upfront costs create financial barriers to entry. developing robust and reliable technology for these installations is critical. This technology must withstand harsh marine conditions while ensuring fish welfare and preventing environmental damage. Overcoming these challenges is key to realizing the full potential of offshore salmon farming.
Understanding the aker-Salmar Partnership Evolution and the Rationale behind the Acquisition
Interviewer: The initial Aker-Salmar partnership was groundbreaking. What has lead to this shift in ownership structure?
Dr. Olsen: Aker’s decision to divest its stake likely reflects a strategic shift in their overall portfolio management. Large corporations often reassess their investments, focusing resources on core competencies and areas with higher growth potential. For Aker, this might involve concentrating on fewer, larger projects. Salmar, on the other hand, views the offshore aquaculture sector as a crucial part of their long-term strategy – a sector with significant potential despite the current challenges.The acquisition allows Salmar to consolidate control and accelerate their growth plans without the need for continued partnerships – streamlining decision-making significantly.This is not necessarily a reflection of failure but rather a strategic realignment for both parties.
Salmar’s Vision for the Future: Technological Innovation and Sustainability
Interviewer: What does this acquisition mean for the future of Salmar and the broader offshore aquaculture industry?
Dr. Olsen: This acquisition signals Salmar’s increased commitment to technological advancements within offshore farming. Further investment in research and growth is likely, driving innovations in areas like fish health management, environmental monitoring, and automation.This could lead to improved efficiency and sustainability within the industry. Furthermore, Salmar’s continued focus on sustainability, addressing environmental concerns and promoting responsible development, will be crucial for long-term success. Their actions serve as a pivotal moment for the industry, highlighting its transformative potential while realistically acknowledging the challenges and uncertainties inherent in this enterprising technological venture.
Interviewer: Thank you, Dr. Olsen, for your insightful analysis. This certainly clarifies the complexities surrounding Salmar’s acquisition and the future of offshore aquaculture.
closing: Salmar’s acquisition of Aker’s stake is a bold move reflecting the industry’s potential despite challenges.The focus now shifts to technological innovation, sustainable practices, and overcoming regulatory hurdles. What are your thoughts on the future of offshore aquaculture? Share your insights in the comments below!