China Fishery completes Copeinca acquisition, delists company

By

SeafoodSource staff

Published on
March 19, 2014
China Fishery Group announced it acquired all the remaining shares on Copeinca.

Prior to the acquisition, China Fishery held 99.78 percent of shares in Copeinca. The offered redemption price of NOK 68.17 (USD 11.39, EUR 8.18) corresponds with the most recent offer prices for the shares.

Funds to secure the settlement under the compulsory acquisition have been placed with an Oslo bank in accordance with the regulatory requirements, China Fishery said.

The company also announced it will pursue the delisting of Copeinca shares from the Oslo Stock Exchange and Lima Stock Exchange.

“We believe that delisting will provide us with the greatest flexibility to realize synergies and efficiencies in our enlarged fishmeal operations,” said Ng Joo Siang, China Fishery managing director. “With respect to the compulsory acquisition, it provides the remaining shareholders with a welcome opportunity to obtain good value for shares which currently have no liquidity.”

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