https://www.engineeringnews.co.za

Sea Harvest seeks to acquire remaining Mareterram shares

5th February 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

JSE-listed fishing business Sea Harvest has entered into a binding bid implementation agreement with its 56.3% held Australian subsidiary, Mareterram, to potentially acquire the remaining shares of Mareterram by way of an off-market takeover offer.

Sea Harvest is offering A$0.25 for each Mareterram share, valuing the issued capital of the Australian company at about A$38.6-million.

The acquisition price for the proposed offer is A$16.9-million, which equates to roughly R163-million at the current exchange rate.

The acquisition price will be funded from Sea Harvest’s existing cash resources.

The offer, if successful, would allow Sea Harvest to fully integrate Mareterram, extract operational synergies and align Mareterram’s operating structure, growth strategy and funding requirements with that of Sea Harvest, the company said in a statement released on Tuesday.

The offer also allows Sea Harvest to continue diversifying its earnings and increasing its market share and presence in Australia.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 
VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.056 1.049s - 141pq - 2rq
Subscribe Now