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Permira places bid for Cermaq

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(Credit: Reuters) Permira placed a bid for Cermaq.Permira logo
July 12
8:46 AM 2013

Permira, a private equity firm, placed a bid for Cermaq's fish feed arm, EWOS, according to two anonymous sources familiar with the matter. Cermaq's fish feed arm was worth US$1 billion.

Previously, Cermaq's shareholders had voted in favor of selling EWOS last Thursday. Afterwards, the company received bids from other private equity firms, Bain and Altor. Last Monday, the fish farmer received a rival indicative offer that exceeded the 6.2 billion crown or US$10 billion bid from the two private equity firms.

According to Finansavisen, a Norwegian newspaper, Permira was the second bidder. Permira, however, declined to comment on the news report.

In addition, according to the one of the sources, Morgan Stanley was advising Permira, and the company had one week for conducting due diligence. 

Similarly, Cermaq did not comment as well. However, Cermaq reaffirmed that mid-July was the target to come up with a definitive agreement for EWOS' sale.

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