Sea Harvest processing facilities. (Photo: Sea Harvest)
Sea Harvest plans to acquire Viking Fishing
SOUTH AFRICA
Monday, December 11, 2017, 21:50 (GMT + 9)
Sea Harvest Group has announced negotiations to acquire Viking Fishing for an undisclosed amount.
The company informed its shareholders that it is leading a consortium of broad-based black economic empowerment investors, which is considering buying all of Viking Fishing Holdings Proprietary Limited through the purchase of several assets and business as well as shares in Viking Fishing and certain subsidiaries, affiliates and shared risk partners of Viking Aquaculture.
As part of the deal it will also acquire 51 per cent of issued social capital of Viking Aquaculture.
Viking was founded in 1980 and supplies seafood including hake, abalone and prawns to wholesalers and retailers.
The firm has interests in trawling hake from South Africa; sardine and anchovy small pelagic fishery; West Coast rock lobster fishery and shrimp fishery from South Africa and Mozambique. In addition, it has interest in aquaculture operations.
Conditions on the deal include due diligence of Viking Fishing and Viking Aquaculture, along with ministerial and competition authority approvals.
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