A unit of Pacific Andes Resources has agreed to sell a 18.09 percent stake in salmon producer Tassal Group for AUD 96.7 million (USD 90 million, EUR 66.1 million), the Singapore-listed group said on Friday.
Quality Food, an indirect subsidiary of Pacific Andes Resources, will retain a 4.6 percent stake in Tassal upon completion of the transaction.
It will book an AUD 36.9 million (USD 34.3 million, EUR 25.2 million) gain from the sale, an approximately 100 percent gain on its investment, the group said.
