Norwegian salmon producer Mowi has entered into a share purchase agreement to sell its salmon farming operations in eastern Canada to Cooke for CA$225 million ($158 million) on a debt-free basis. The transaction involves 9,000 gutted weight tonnes of standing biomass.
According to a company statement released on June 30, the assets will be classified as held for sale on the financial books until the transaction is finalised.
The deal remains pending competition approval and the completion of confirmatory due diligence by the purchasing firm.
Mowi stated that the completion of the divestment is expected to take place during the second half of 2026. The completion also remains subject to other customary closing conditions.
As a result of the transaction, the firm's projected global production volume guidance for 2026 will decrease from 605,000 gutted weight tonnes to 600,000 gutted weight tonnes.
In connection with this asset sale, Mowi will also record a financial write-down of approximately CA$140 million.
