 Fredriksen's first major move into the industry came in the second quarter of 2005, when Domstein's 24% stake in Fjord Seafood was sold to his investment vehicle Geveran Trading.Around the same time, Pan Fish announced that two companies indirectly controlled by Fredriksen had acquired a combined 48% of the company's outstanding shares.In October of that year, with salmon prices high, Fjord submitted an offer for a majority stake in Cermaq to the Norwegian Government, which was preparing it for a public listing.