A fishing vessel of the Sea Harvest fleet. (Photo: Sea Harvest)

Sea Harvest getting closer to buy Viking Fishing assets

SOUTH AFRICA
Thursday, April 26, 2018, 02:50 (GMT + 9)

Frozen fish supplier Sea Harvest Group has managed to move a step closer to acquiring the fishing business of domestic peer Viking Fishing, after announcing the South African government approved a transfer of the fishing rights.

Representatives of the company said the Government granted them approval to head of an investor consortium that have the fishing rights, which, in their view, is a signal that it will be possible to acquire Viking Fishing including a 51 per cent of the issued share capital of Viking Aquaculture, Reuters reported.

However, the transaction is still subject to other approvals including from South African competition authorities.

Sea Harvest's main business is fishing for Cape Hake and Shark Bay prawn and processing the catch into frozen and chilled seafood. It services retail and food service customers in 22 countries.

The firm operates a fleet of 18 fishing vessels, which it also owns, and in Australia it has another 11 shrimp ships through Mareterram subsidiary. 

Viking Fishing is a privately owned South African fisheries company founded in 1980, with interests in the hake trawling fishery of South Africa; catching small sardine and anchovy pelagics; the rock lobster fishery on the west coast and the shrimp fisheries in South Africa and Mozambique. In addition, it has interest in aquaculture operations.

Viking Fishing Group operates a big fleet of fishing vessels, three seafood processing facilities and a growing number of aquaculture farms in the South of Africa.

Related article:

- Sea Harvest plans to acquire Viking Fishing

 
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