Salmon-farming pioneer in China sells out to state conglomerate

After a decade of trying to be China’s top local producer, China’s salmon farming pioneer has sold its assets to a state-owned conglomerate. Shandong, China-based Oriental Ocean has gotten CNY 226 million (USD 31.6 million, EUR 29.3 million) for its “salmon-raising facilities” in the Dajijia industrial zone, near the city of Yantai on China’s east coast, according to a company letter to investors. The buyer is a new joint venture controlled by state-owned behemoth holding company Qingdao Guoxin…