Fredriksen sells Marine Harvest shares for 4.4 billion

Shipowner John FredriksenShipowner John Fredriksen.Photo: Håkon Mosvold Larsen / NTB scanpix

John Fredriksen-owned investment company Geveran Trading has sold a third of its shareholding in salmon farming company Marine Harvest for 4.4 billion.
The news of the sale have been reported by DN citing TDN Finans and Bloomberg News.  Tuesday afternoon Fredriksen notifed sale of 37.8 million shares, which were then implemented. The price per share was 117 million.
The share price for Marine Harvest has risen by around 43 percent over the past year. The closing price Tuesday was 126 million.
historically high
Geveran Trading owns 79.6 million shares in Marine Harvest after the sale, which represents 17.67 percent of the share capital of the company. Before divestiture  Fredriksen’s holdings amounted 26.07 percent of the company.
– The shares are priced historically high while earnings are at record levels. That he may choose to rebalance the portfolio, is not very unreasonable,  analyst Knut Ivar Bakken Danske Bank Markets says according to TDN Finans Intrafish.


Source: NTB scanpix / Norway Today