Lerøy Seafood Group ASA: Scottish Sea Farms Ltd. acquisition of Grieg Seafood Hjaltland UK Ltd. approved by competition authorities

·2 min read

Lerøy Seafood Group ASA ("LSG") announced on 29 June 2021 that Scottish Sea Farms Ltd. ("SSF"), a vertically integrated Scottish salmon farming company owned 50/50 by LSG and SalMar ASA, had signed a Share Purchase Agreement to acquire 100% of the shares in Grieg Seafood Hjaltland UK Ltd. from Grieg Seafood ASA (the "Transaction"). Completion of the Transaction was subject to certain customary closing conditions, including the approval from relevant competition authorities. The Transaction has now been cleared by all relevant competition authorities and completion of the Transaction is expected to take place during December 2021.

For queries, please contact:

Sjur S. Malm, CFO Lerøy Seafood Group, +47 41 77 20 20

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.

This stock exchange announcement was published by Hans Ljøen, Head of Treasury and Investor Relations at Lerøy Seafood Group ASA, on 8th December 2021 at 08:15 CET.

About Lerøy Seafood Group ASA

Lerøy Seafood Group ASA is a global seafood corporation with its head office in Bergen. The Group's approx. 5,000 employees handles between 350,000 and 400,000 tonnes of seafood every year through our value chain, corresponding to around 5 million meals every day. The Group has a vertically integrated value chain for redfish and whitefish, and significant activities using third-party products.

The Group's values - open, honest, responsible and creative - shall represent the very foundations of everything we do, and we work hard to achieve our goal of creating the world's most efficient and sustainable value chain for seafood. The target for return on capital employed (ROCE) is 18% p.a.. The Group has set a number of targets within sustainability, including cutting greenhouse gas emissions by 46% by 2030.

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