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Business / Salmon farm company in talks with ‘third party’ over sale of Shetland assets

SALMON company Grieg Seafood has confirmed it is in talks over the sale of its interests in Shetland and Skye.

It comes amid industry reports that Scottish Sea Farms has submitted a successful bid.

Grieg Seafood only confirmed it was in talks with a “third party”.

The company said it would not make any further statements either before a “definitive agreement is reached or when the discussions are ended”.

Last year the salmon farm business announced plans to sell its Grieg Seafood Shetland assets – which it valued at £140 million – “when the time is right”.

It has nine active farm sites in Shetland, with some fallowed, and it employs around 200 people in the isles.

It also opened a new salmon hatchery in Girlsta in 2015, while it has an office and processing plant at Gremista in Lerwick.

Last year Grieg – which also has sites in Canada and Norway – said it had to “prioritise resources and investments and make some tough decisions” following the impact of the Covid-19 pandemic.

In Shetland the three firms working in the salmon farming business are Grieg, Scottish Sea Farms and Cooke Aquaculture.

Scottish Sea Farms has been approached for comment.