Goldman Sachs Asset Management (GSAM) has offered to purchase a 72% stake in Norwegian aquaculture service group Froy for 6.6 billion Norwegian crowns ($598.8 million) in cash.
The stake will be acquired from a unit of salmon farmer Salmar for 76.50 crowns per share, with GSAM planning to bid for the remaining shares at the same price.
Froy's fleet of specialized wellboats and other vessels offers maritime transportation services to fish farmers and other aquaculture companies, and the company's share price has risen almost 50% since Salmar announced its intention to sell the stake in January. GSAM Global Co-Head of Infrastructure Tavis Cannell noted the importance of wellboats and service vessels in driving sustainable farming practices and praised Froy for its role in this effort.
