Goldman Sachs Asset Management is hoping to hook Norwegian aquaculture service group Frøy in an all-cash deal worth NOK6.6 billion. The transaction is expected to close in the third quarter of 2023.
Goldman Sachs Asset Management (GSAM) is hoping to hook Norwegian aquaculture service group Frøy in an all-cash deal worth NOK6.6 billion ($598.8 million). The transaction is expected to close in the third quarter of 2023.
Frøy operates a fleet of wellboats and service vessels that are used to transport fish, feed, and other supplies to aquaculture farms. Frøy also provides a range of other services, such as fish health and welfare, and environmental monitoring.
The acquisition of Frøy, which is part of Goldman Sachs’s strategy to invest in sustainable infrastructure businesses, is expected to be financed through a combination of debt and equity. Goldman Sachs has secured NOK4.5 billion in debt financing for the transaction, and is expected to raise the remaining NOK2.1 billion through a public offering of shares in the business.