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Leroy Seafood Group ASA & Austevoll Seafood ASA	Update Date: 11/30/08
Date Announced: 11/26/08
Value (million $USD): n/a

Status: Pending

TRANSACTION DETAILS
Date Announced	11/26/08
Date Originally Announced	11/26/08
Format	Acq. Rem. Int.	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	n/a	Advisor Fees	n/a

SYNOPSIS
NORWAY - Austevoll Seafood ASA (AS) planned to acquire the remaining 25.05% stake, or 13.419 mil ordinary shares, which it did not already own, in Leroy Seafood Group ASA (LS), a Bergen-based producer and wholesaler of seafood products. Previously, AS raised its interest to 74.95% from 43.42%, by acquiring a 31.53% stake, or 16.894 mil ordinary shares, in LS.

TARGET
Name	Leroy Seafood Group ASA
Industries	Packaged frozen foods; Fish and seafoods
City	Bergen
State	n/a
Nation	Norway
Incorporated in	n/a
Public Status	Subsidiary
Business Description	Leroy Seafood Group ASA, located in Bergen, Norway, produces and wholesales seafood products. The Group operates through two segments namely : Sales & Distribution and Production. Its product range includes whole salmon, processed salmon, whitefish, pelagic fish, shellfish and trout. The company was founded in 1899.
Advisors	NULL
Target Sales	1.02 billion U.S. Dollar 5.94 billion Norwegian Krone

ACQUIROR
Name	Austevoll Seafood ASA (OTC : AUSS)
Industries	Fish and seafoods
City	Storebo
State	n/a
Nation	Norway
Incorporated in	n/a
Public Status	Public
Business Description	Austevoll Seafood ASA, located in Storebo, Norway, produces and wholesales seafood products. The group operates in four segments: Fishmeal/oil, Human Consumption, Trading and Salmon. Fishmeal and oil production segment provides core component for production of fish feed and other animal feed. Human consumption segment offer following products: canned horse mackerel, mackerel, sardines, tuna fish, salmon and mussels. Trading segment primary activity is the purchase and sales of salmon and pelagic fish. Salmon segment farms salmon from egg to slaughter. The company was founded in 1981.
Advisors	NULL
Acquiror Sales	652.8 million U.S. Dollar 3.32 billion Norwegian Krone

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