China Fishery Group has made an offer to buy Copeinca ASA for USD 285 million (EUR 217.9 million), a move that will bring China into the South American seafood industry and bolster the country’s existing Pacific operations, according to a release.
Copeinca, based in Oslo, Norway and listed on the Norwegian stock exchange, is one of Peru’s largest fishing and fish oil companies. The offer, from China Fisheries, a unit of Hong Kong-based Pacific Andes International Holdings, amounts to NOK 53.85 (USD 9.44, EUR 7.22) per share.
Copeinca is the world’s largest fishmeal and fish oil producer and exporter, according to the International Fishmeal and Fish Oil Organization. It has a 10.7 percent share of Peru's catch quota for anchovy, which is processed into fishmeal.
The offer is subject to regulatory approvals and China Fishery securing more than half of Copeinca by April 12, although this deadline can be extended to May 23.
