Fishing group Sea Harvest has signed a A$70m (R788m) deal to acquire the seafood interests of Australian group MG Kailis, adding to its international footprint as well as access to high-value species such as prawns.

Sea Harvest, established in 1964 and valued at R4.33bn on the JSE, already has a division in Australia that generates just over a tenth of group revenue. The acquisition is part of a group strategy to seek sizeable international businesses...

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