The Competition Tribunal has given the green light to Sea Harvest to acquire the fishing and abalone business subsidiaries of Terrasan Beleggings, in a deal that creates the largest abalone business in the southern hemisphere.

In January, Sea Harvest announced that through its subsidiaries, it had acquired 100% of the pelagic fishing business of Terrasan and 63.1% of its abalone subsidiary, Aqunion, for a total sum of R964m. That was by means of a combination of a cash payment of R364m and the placement to Terrasan of 60-million Sea Harvest shares at an issue price of R10 a share...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.