European Commission Objects to Marine Harvest Early Acquisition of Morpol

EUROPE - The European Commission has sent objections to salmon farmer and processor Marine Harvest over early implementation of its acquisition of competitor Morpol.


In December 2012 Marine Harvest had acquired a 48.5 per cent stake in its fellow Norwegian company Morpol.


This transaction was notified only in August 2013 and cleared subject to conditions in September 2013 (see IP/13/896). In the Commission's preliminary view, Marine Harvest has failed to notify its project to acquire Morpol to the Commission before it was implemented, in breach of the EU Merger Regulation.


If the infringement is confirmed, the Commission may impose a fine of up to 10 per cent of the company's annual worldwide turnover. The sending of a statement of objections does not prejudge the outcome of the investigation.