Cermaq, a Norwegian state-controlled salmon producer, has agreed to be acquired by the Mitsubishi Corporation of Japan for $1.39 billion.

Cermaq, which has operations in Chile and Canada, as well as in Norway, is one of the biggest companies in the world in salmon farming. It sold 142 300 tonnes gutted weight of salmon last year, accounting for about 6 percent of the global market. (More than 70 percent of salmon sold in stores comes from fish farms.)

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