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4-Traders Homepage  >  Equities  >  Deutsche Boerse AG  >  Sea Harvest Group    591   ZAE000240198

SEA HARVEST GROUP (591)
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Delayed Quote. Delayed  - 06/22 09:15:03 am
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06/13SEA HARVEST GRO : Acquisition
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Sea Harvest : reaches agreement to acquire fishing business of Viking Fishing

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06/14/2018 | 04:49am CEST

JOHANNESBURG - Fishing company Sea Harvest said on Wednesdaya consortium of broad-based black economic empowerment investorsl led by itself had reached a deal to acquire the fishing business of, and selected shareholdings in Viking Fishing for nearly R885 million.

Viking Fishing operates a fleet of 30 vessels from Cape Town, Hout Bay, Mossel Bay, Durban and Maputo and catches, processes and markets hake, horse mackerel, small pelagics (pilchards and anchovy), west coast rock lobster, prawns and tuna pole.

"Following its listing on the JSE on 23 March 2017, Sea Harvest has actively sought to grow via acquisitions in the fishing and aquaculture sectors in line with the company’s strategy and vision of becoming one of the largest black owned diversified global seafood and food companies," Sea Harvest said.

"The acquisition of the Viking Group fits the group’s investment criteria and Sea Harvest is confident of the value that a combination of Sea Harvest and the Viking Group would generate."

It said the proposed acquisition would significantly increase black ownership in the fishing industry due to the strong transformation credentials of Sea Harvest and ensure the preservation of 1,600 jobs, 90 percent of which consisted of historically disadvantaged individuals, particularly in the ports of Mossel Bay, Saldanha Bay and Cape Town and the rural communities of Kleinzee and Gansbaai.

- African News Agency (ANA)

(c) BusinessReport 1999 - 2018 Independent Newspapers (Pty) Limited. All rights strictly reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Latest news on SEA HARVEST GROUP
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Sea Harvest Group Technical Analysis Chart | 591 | ZAE000240198 | 4-Traders
Managers
NameTitle
Felix Ratheb Chief Executive Officer & Executive Director
Frederick Robertson Non-Executive Chairman
Terence Calvin Brown Director-Group Operations
João Paulo Mc Alpine de Freitas Chief Financial Officer & Executive Director
Muhammad Brey Executive Director & Chief Investment Officer
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