BAKKAFROST: Acquisition of P/F Faroe Farming approved by the authorities
In market announcement on 29 June 2016, Bakkafrost announced that it had entered an agreement with Sp/f Hjallur to acquire 51% of the shares in P/F Faroe Farming, a salmon farming company that operates in the southern part of the Faroe Islands, Suðuroy. The agreement was conditioned on the approval of the Faroese Registry and the Competition Authorities. These authorities have now approved Bakkafrost’s acquisition of the remaining outstanding shares of P/F Faroe Farming. Consequently, the acquisition is final and Bakkafrost hereafter owns 100 % of the shares in P/F Faroe Farming.