Cermaq ASA: Definitive agreement for the sale of EWOS at an enterprise value of NOK 6.5 billion reached with Altor and Bain C...

Reference is made to the stock exchange notice of 17 June 2013 regarding the offer for EWOS presented by Altor Fund III GP Limited and Bain Capital Europe, LLP (collectively referred to as "Altor and Bain Capital").

Cermaq has today entered into a definitive share purchase agreement with Altor and Bain Capital regarding the sale of EWOS. The purchaser will be a Norwegian company established by funds advised by Altor and Bain Capital for this purpose. The agreed consideration implies an enterprise value of EWOS of NOK 6.5 billion, and will be payable in cash upon completion. The transaction is expected to close by the end of October 2013.

Altor and Bain Capital have followed the aquaculture industry for several years, and see great potential in working with EWOS' management team to further develop its world leading fish feed business.

The transaction will enable Cermaq to free up significant funds. Such funds will be used to reduce debt to ensure a continued solid capital structure and compliance with all financing commitments for the remaining operations, and to realize an extraordinary dividend to the shareholders. Subject to completion of the transaction, the company expects an extraordinary distribution to Cermaq's shareholders of around NOK 4.5 - 5.0 billion, or between NOK 48 and NOK 54 per share.

The Cermaq board will now continue its efforts to further develop the company's significant farming activities in Norway, Canada and Chile. Cermaq supports a further consolidation of the farming industry in selected geographical areas and will consider various solutions to further develop the company's strong position and further maximize residual shareholder value.

ABG Sundal Collier has acted as financial advisor, and Schjødt as legal advisor, to Cermaq in connection with the transaction.

Cermaq will in due course revert with additional details of the transaction in accordance with applicable reporting obligations.

For further information please contact:

CEO Jon Hindar, phone +47 23 68 50 10, mobile: +47 977 48 829
CFO Tore Valderhaug, phone +47 23 68 50 38, mobile: +47 995 60 925

About Cermaq - Cermaq is an international group of companies with activities in fish farming, production of salmonid feed and research in aquaculture. Cermaq has operations in Norway, Chile, Canada, Scotland, the main geographic regions for salmon and trout farming, and in Vietnam. Through its business unit EWOS, Cermaq ranks as the world's largest producer of feed for salmonids. The business unit Mainstream is one of the world's leading farming companies of salmon and trout. The group had sales of around NOK 11.8 billion in 2012. Cermaq is listed on the Oslo stock exchange with ticker code CEQ. For more information see www.cermaq.com.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Cermaq ASA via Thomson Reuters ONE

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