Israeli investor taking 15% stake in AKVA group
Israel Corp., a listed Israeli investment company, has agreed to buy around 15% of the shares in Norwegian aquaculture technology supplier AKVA group. This means that AKVA group will receive around NOK 300 million (£25.6m) in new funds.
In addition, AKVA group and Israel Corp. agreed to establish an investment platform for investments in land-based fish farms worldwide, based on AKVA group’s technology. The goal is to invite more investors on to this platform.
AKVA grou chief executive Knut Nesse said the company is very pleased to be able to welcome Israel Corp. as a long-term and strategically important owner in AKVA group.
Increasing the pace
“We believe that Israel Corps’ global business experience and technology background will contribute to our goal of becoming a world-leading provider of technological and digital solutions in sea-based and land-based farming,” said Nesse.
“This agreement will make it possible to increase the pace of our current strategy, increase the degree of innovation and implement our land-based strategy.”
Global opportunities
Yoav Doppelt, chief executive of Israel Corp., said: “Our conversations with AKVA group convinced us that the company is best equipped to take advantage of the global opportunities that lie in land-based fish farms.”
AKVA group is headquartered in Klepp on Jæren and is listed on the Oslo Stock Exchange. It has branches worldwide, including in Scotland, Canada and Chile.
The company delivers both sea-based and land-based facilities, solutions and products. Following the conclusion of the agreement, Egersund Group AS will continue to retain the majority of shares in AKVA group.
