Acquisition of EWOS (NO) by Bain Capital Europe LLP and Altor Fund III GP Limited from Cermaq ASA (NO) — Enterprise value NOK 6.5 billion

Carnegie acted as sole financial adviser to Altor and Bain Capital in connection with their offer to acquire EWOS. EWOS is one of the world’s largest suppliers of feed and nutrition for the international aquaculture industry, operating in all four of the world’s major salmon farming regions.October 2013.