A one-third shareholding in VSV has been acquired from Brim by FISK Seafood. Image: VSV

Fishing and processing company FISK Seafood, based at Sauğárkrókur in the north of Iceland, has acquired a one-third stake in Westmann Islands company Vinnslustöğin (VSV) from Brim hf.

The relationship between Brim and VSV had long been a rocky one, and now the two have parted company. Earlier this year Brim acquired a substantial stake in HB Grandi, and in funding that purchase has already disposed of assets, including factory trawler Brimnes, now its holding in VSV, and is also in the process of selling trawler operator Ögurvík and its factory trawler Vigri to HB Grandi.

According to VSV, FISK Seafood acquired one third of the VSV shareholding for a purchase of ISK9.4 billion and the Icelandic Competition Authority also has to examine the acquisition.

‘The board and managers of FISK Seafood look forward to co-operating with Vinnslustöğin’s owners and managers, and foresee great opportunities in co-operation between the two companies,’ FISK Seafood said a statement.

‘On behalf of Westmann Islanders among the company’s shareholders, I welcome FISK Seafood’s decision and agree with the Skagafjörğur people that we also see many interesting possibilities in co-operating with them,’ commented VSV’s managing director Sigurgeir B. Kristgeirsson.

Source: VSV