: Goldman Sachs Asset Management buying Norwegian salmon farming company Frøy


A unit of Goldman Sachs Group Inc.’s GS, +0.74% alternative investing division Goldman Sachs Asset Management on Monday said it would acquire Frøy ASA FROY, +0.54% in a deal that values the salmon farming transportation company at about $595 million. Falcon Bidco AS, a company owned by infrastructure funds managed by Goldman Sachs Asset Management (GASM), said it would pay seller NTS AS, a unit of SalMAR ASA SALM, -2.96% SALRF, +5.25%, the equivalent of about $6.90 a share in local currency for its 72% stake in Frøy, plus it is also making a mandatory offer to acquire the remaining shares of the company. All told, GASM is buying all 86.35 million shares of Frøy ASA. Frøy launched a strategic review of its business in January and received “strong interest from a broad field of reputable investors,” the company said. Tavis Cannell, global co-head of infrastructure at GASM, said Frøy is “one of the leading companies providing mission-critical transportation and support infrastructure to the aquaculture industry.” Goldman Sachs stock is up by 1.3% on Tuesday.

This article was originally published by Marketwatch.com. Read the original article here.

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