Brim hf. entered into an agreement to acquire a 50% stake in Polar Seafood Denmark A/S from Helge Nielsen, Bent Norman Petersen, and Louise Schov Petersen for DKK 625 million.

Brim hf. (ICSE:BRIM) entered into an agreement to acquire a 50% stake in Polar Seafood Denmark A/S from Helge Nielsen, Bent Norman Petersen, and Louise Schov Petersen for DKK 625 million on October 21, 2022. The purchase price is DKK 245 million.

Additionally, Brim hf. has subscribed for new shares in the company (PSD) for the sum of DKK 380 million. The total purchase price payable by Brim is thus DKK 625 million.

The agreement is subject to customary conditions for transactions of this kind, such as approval from the relevant authorities. Following the sale of shares Helge Nielsen will retire as managing director of Polar Seafood Denmark A/S and Henrik Leth who has served as the chairman of the board, will replace him as the company´s managing director. The annual turnover in 2021 was DKK 3.7 billion and profit after tax was DKK 229 million.