Latham & Watkins Advises on Debt Financing for Acquisition of Frøy ASA

Latham & Watkins has advised a group of lenders on the debt financing for Falcon Bidco AS (a company indirectly wholly owned by infrastructure funds managed by Goldman Sachs Asset Management) in connection with its acquisition of all the shares held by NTS AS (a wholly owned subsidiary of SalMar ASA) in Frøy ASA, a leading integrated aqua services provider to the Norwegian salmon farming industry.  The shares held by NTS AS represent approximately 72.11% of the shares in Frøy ASA and, following completion of the acquisition, Falcon Bidco AS will make an unconditional mandatory cash offer to acquire all remaining shares in Frøy ASA.

The Latham team was led by London finance partners Seonaid Todisco and Conrad Andersen, with associate Divya Chaudhary. Advice on tax matters was provided by London partner Karl Mah, with associate Aoife McCabe. Norwegian law advice was provided by Wiersholm.