Competition authority approves Sea Harvest merger
Its deal with Terrasan Beleggings will create the biggest abalone business in the southern hemisphere
15 May 2024 - 15:53
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...
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