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Mowi, a global seafood company, has revealed that its acquisition of a controlling stake in Nova Sea has received approval from the European Commission.

This development comes as Mowi seeks to increase its ownership in Nova Sea from 49% to 95%, reinforcing its strategic position in the aquaculture market.

The approval by the EU Commission marks a crucial step in Mowi's plans to consolidate its stake in Nova Sea, a prominent player in the Norwegian salmon farming industry.

The transaction, initially disclosed in a stock exchange notice on January 30 2025, is now awaiting final approval from the Norwegian competition authority before it can be fully executed.

Mowi's decision to enhance its investment in Nova Sea aligns with its broader strategy to optimise production capabilities and expand its operational footprint.

By taking full control of Nova Sea, Mowi aims to leverage synergies in production, distribution and innovation, ultimately enhancing its competitive edge in the global seafood market.

This acquisition comes at a time when global demand for sustainably farmed seafood continues to rise.

Mowi's expansion into Nova Sea is expected to bolster its capacity to meet this demand, particularly in the European market, where consumer preferences are increasingly shifting towards high-quality, responsibly sourced seafood products.

The integration of Nova Sea's operations is anticipated to enhance Mowi's overall production capabilities, allowing for better resource management and cost-effectiveness.

With the EU's approval secured, Mowi is now focused on obtaining the necessary clearance from the Norwegian competition authority. Once this final hurdle is cleared, Mowi will be poised to finalise the acquisition and implement its strategic plans for Nova Sea.