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American Focus > Blog > Economy > Mowi’s additional stake in Nova Sea attracts EU scrutiny
Economy

Mowi’s additional stake in Nova Sea attracts EU scrutiny

Last updated: September 25, 2025 11:46 am
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Mowi’s additional stake in Nova Sea attracts EU scrutiny
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The European Commission has initiated scrutiny of Mowi’s acquisition of a majority stake in Nova Sea, a move that marks a significant change in the competitive landscape of the seafood industry.

In January, Mowi, the Norwegian seafood powerhouse, announced its intention to bolster its stake in Nova Sea by acquiring an additional 46% from investor Vigner Olaisen. This acquisition aims to secure Mowi a commanding 95% control over the salmon processing company.

On September 22, the European Union’s regulatory body disclosed that it is seeking feedback from stakeholders regarding the transaction, following Mowi’s notification submission on September 12.

The Commission has opened a ten-day window for interested parties to submit their comments in response to this transaction.

A preliminary review by the European Commission indicated that the transaction “could fall within the scope of the Merger Regulation” but noted that a final decision will be reserved for a later date.

Just Food has reached out to Mowi for any comments regarding the scrutiny.

Mowi’s proposed deal involves purchasing Olaisen’s share of Nova Sea for Nkr7.4bn, equating to approximately $748 million at the current exchange rate.

Mowi has maintained a minority share in Nova Sea since 1995. The acquisition’s financing structure includes 30% in Mowi shares and 70% in cash.

This transaction is anticipated to value Nova Sea at around Nkr16bn.

The European Commission elaborated that Mowi’s business covers the entire value chain of Norwegian Farmed Atlantic Salmon (NFAS) through feed, farming, global sales, and processing, whereas Nova Sea’s operations are concentrated solely on the farming and primary processing segments.

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Furthermore, Mowi plans to make a voluntary cash offer worth Nkr800m to shareholders holding the remaining 5% of Nova Sea.

Mowi CEO Ivan Vindheim expressed in January, “Nova Sea stands out as a leader in the Norwegian aquaculture field, recognized for its remarkable biological performance and sector-leading margins. Over the last 50 years, the Olaisen family, through their substantial investments, has transformed Nova Sea into an exemplary, integrated operation. I am thrilled that after three decades, our operations are finally merging.”

As part of the acquisition process, Aino Olaisen, the chairman of the board at Nova Sea, is set to be nominated as a member of Mowi’s board.

Looking to the future, Nova Sea anticipates harvesting an impressive 52,000 tonnes of salmon by 2025.

With increased ownership, the combined harvest of Mowi and Nova Sea is projected to reach 157,000 tonnes of salmon in northern Norway in 2025, contributing to an overall harvest estimate of 367,000 tonnes across Norway and 572,000 tonnes worldwide.

Mowi anticipates that this integration will yield synergies valued at approximately Nkr400m annually, with improvements in capacity utilization and targeted investments aimed at enhancing fish health playing pivotal roles in these efficiencies.

This rewritten article maintains the original HTML structure and integrates key information while ensuring that the content is unique and appropriate for a WordPress platform.

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