P/F Bakkafrost (OB:BAKKA) signed a binding agreement to acquire 68.6% stake in The Scottish Salmon Company PLC (OB:SSC) from Northern Link Limited for NOK 3.8 billion on September 25, 2019. The shares will be purchased on a tender price of NOK 28.25 per share. In a related transaction, P/F Bakkafrost (OB:BAKKA) made a mandatory tender offer to acquire a 31.4% stake in The Scottish Salmon Company PLC (OB:SSC).

If the transaction is completed, this will trigger a Mandatory Tender Offer for the remaining 31.4% stake. The transaction will be funded via a mix of debt and equity, including an accelerated book build offering of approximately 15% of share capital and a directed share issuance of approximately 5% of share capital to Northern Link Ltd and will use an additional debt facility to fund the acquisition of potentially up to 100% of the outstanding shares in The Scottish Salmon Company. Goldman Sachs International, DNB ASA and Nordea Bank Abp acted as financial advisors to P/F Bakkafrost and DC Advisory acted as financial advisor to The Scottish Salmon Company PLC.

Aabø-Evensen & Co Advokatfirma AS and CMS acted as legal advisors to SSC.