Brimstone says subsidiary Sea Harvest in acquisition talks

11th December 2017

By: African News Agency

  

Font size: - +

South African investment holding company Brimstone said on Monday its subsidiary Sea Harvest had entered into negotiations to acquire the entire fishing business of Viking Fishing.

Brimstone, which has a 54.9% stake in Sea Harvest, said a consortium of broad-based black economic empowerment investors led by Sea Harvest would purchase various assets and businesses from, and shareholdings in, Viking Fishing and certain subsidiaries, affiliates and joint venture partners.

Sea Harvest was also looking to buy 51% of the issued share capital of Viking Aquaculture.

“The proposed transaction is subject to the fulfilment of a number of conditions,” Brimstone said, urging shareholders to trade cautiously in its securities.

The Sea Harvest Group is a fishing and food business with operations in South Africa and Australia which services customers in 22 countries.

Brimstone Investments, a black owned Cape-based investment consortium, first invested in Sea Harvest in 1998 and acquired control in 2009.

Sea Harvest’s principal business is fishing hake and prawns, processing the catch into frozen and chilled seafood, and marketing the products both locally and abroad.

Edited by African News Agency

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION