China Fishery ponders next Copeinca move

China Fishery Group is still trying to figure out how to react to a move by Oslo, Norway-listed Cermaq’s purchase of a controlling interest in Copeinca’s shares.

China Fishery, after acquiring 9.9 percent of the Peruvian fishmeal and fish oil company, had made an offer of about USD 500 million for the company’s remaining shares, but after Copeinca rejected that offer, Cermaq purchased 50.7 percent of the company’s shares for more than USD 800 million.

“The board is in consultation with its advisors to explore its options in relation to the information announced by Copeinca and will update shareholders in due course,” China Fishery said in a statement released this week after the Cermaq purchase.

China Fishery’s statement offered no other hints as to what the company will do now, but urged its shareholders to “exercise caution” and not to take any action yet.


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