Origin to sell non-core asset

Origin Enterprises has moved to strengthen its focus on its core agri-services business by agreeing to sell its marine proteins interests for €90m-plus.

The Dublin-based group has reached conditional agreement to sell its 50% stake in the Welcon Invest AS marine proteins and oils company to its Norwegian partner, Austevoll Seafoods, for 740m krone. At current exchange rates, that translates to €93m-€95m.

Origin will primarily use the proceeds from the sale to invest further in its core agri-services business.