 Attempts to grow the company through merger and acquisitions were also frustrated—a planned merger with the aquaculture businesses of Domstein (then the biggest shareholder of Fjord) and state-controlled Cermaq was aborted in June 2002 after opposition from parties including ContiGroup and Seaboard, who controlled over 20% of shares between them.Nevertheless, Fjord stabilised its financial position through restructuring and cost-cutting measures.Moves toward consolidation in the aquaculture sector were sparked by the activity of shipping magnate John Fredriksen, Norway's richest man before abandoning his citizenship of the country in 2006.