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Lerøy Seafood Group ASA rejects the European Commission’s preliminary assessment

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

The European Commission (Commission) initiated, on 19 February 2019, an investigation relating to suspicions of anti-competitive cooperation in the market for farmed Norwegian Atlantic salmon.

The Commission has today sent a Statement of Objections (SO) to several exporters of Norwegian salmon. The SO sets out the Commission’s preliminary assessment that the exporters, in some instances, may have exchanged commercially sensitive information in relation to spot market sale of whole Norwegian farmed salmon to the EU in the period 2011-2019. Lerøy Seafood Group (LSG) is one of the companies that has received the SO.

LSG strongly rejects the Commission’s allegations. LSG is dedicated to ensuring compliance with relevant competition law and always competes vigorously to offer customers the best products and terms.

The SO is not a final decision and has been issued in accordance with the Commission’s ordinary procedures for such an investigation. The SO includes the Commission’s preliminary assessments only. LSG has a right of response, and will after carefully reviewing the SO provide its comments to the Commission. LSG has cooperated with the Commission throughout the Commission’s investigation, and will continue to work constructively with the Commission.

It is standard practice that these investigations last several years. It is not possible at this stage to make any statement on whether the case will result in sanctions or other negative consequences for LSG, or when the case will end. As this is an ongoing investigation it is not possible for LSG to provide any further comment.

The information included in this announcement is defined as inside information pursuant to article 7 of the Market Abuse Regulation (MAR) and is publicly disclosed in accordance with article 17 of MAR section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Sjur S. Malm, CFO at Lerøy Seafood Group ASA, on 25 January 2024 at 12:07 CET.

 

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