Copeinca board backs China Fishery offer

By

SeafoodSource staff

Published on
July 22, 2013

Copeinca’s board of directors unanimously told its shareholders on Tuesday the takeover offer from China Fishery represents an attractive financial opportunity and “represents an opportunity for continued development of Copeinca’s businesses in Peru.”

On 16 July, China Fishery offered NOK 68.17 (USD 11.49, EUR 8.72) per share for the Peruvian fishmeal producer, a 14.2 percent more than previous offers from Cermaq and China Fishery of NOK 59.70 (USD 10.06, EUR 7.64).

The acceptance period for the bid is from 17 July to 31 July.

China Fishery already owns 5.8 million shares of Copeinca.

Copeinca said the transaction is not expected to have “any legal, economic or work-related consequences for the employees” of Copeinca and that China Fishery has no current intention to change the current operations of any member of Copeinca.

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