The European Commission approved, on Monday 31 October, the proposed acquisition of NTS by SalMar, two Norwegian companies in the salmon sector.
This authorisation is subject to full compliance with the commitments proposed by SalMar.
SalMar is one of the world’s largest producers of farmed salmon, with operations in Norway, Iceland and Scotland. NTS, which owns SalmoNor, Norway Royal Salmon and Frøy, is also a leading salmon farmer active in Norway and Iceland.
The transaction, as originally notified, could have reduced competition for the supply of Icelandic salmon in the European Economic Area (EEA). After investigation, the Commission found that the transaction would have reduced the number of active Icelandic salmon farmers from three to two. As a result, the merged entity would have become by far the largest supplier of Icelandic salmon. This could have led to “higher prices and less choice for Icelandic salmon in the EEA”, according to the Commission.
To address the Commission’s concerns, SalMar offered to divest NTS’s Icelandic subsidiary Arctic Fish. Arctic Fish combines NTS’s Icelandic operations and the divestment removes the overlap in the supply of Icelandic salmon. Arctic Fish operates as a viable stand-alone business and will be able to continue to supply Icelandic salmon after the divestment. (Original version in French by Lionel Changeur)