Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

The parties to the proposed transaction are EPAX Holding AS (together with its subsidiaries “EPAX”, Aker BioMarine ASA (“ABM”) and Lindsay Goldberg LLC (“LG”) (hereinafter jointly referred to as the “Parties”).

EPAX is a Norwegian limited liability company. The company is a producer of concentrated fish oil for use in various dietary supplements in the health food segment. EPAX does not supply any end products itself, but sells its products in bulk to capsule manufacturers and marketing companies.

ABM is a Norwegian public limited liability company, listed on Oslo Stock Exchange. The core business of ABM is the Antarctic krill which includes both harvesting krill and the production of krill derived products such as krill meal and krill oil.

LG is a US-based private investment firm which focuses on long term investments in companies with growth opportunities. Through its investment funds, LG invests in companies engaged in a range of businesses in the US and the world.

ABM, via its wholly owned subsidiary Trygg Pharma AS (“Trygg Pharma”), has entered into agreements for the indirect purchase of 100 per cent of the share capital of EPAX from Austevoll Seafood ASA (“Austevoll Seafood”). ABM has also agreed to establish a joint venture company, Trygg Pharma Holding, with LG, which is to be held on a 50/50 basis by ABM and LG, and which in turn will hold all of the share capital of EPAX as well as Trygg Pharma.

The Transaction will not result in any overlaps between the Parties. Neither will it result in any vertical relations between the Parties. Accordingly, the transaction will not result in any reportable markets.

Upon completion of the Transaction, Trygg Pharma will aim to become a major player in the premium segment of the Omega-3 nutritional supplement business and well positioned to develop marine-derived application-specific ingredients and products.