New-look fish to fry?
MARC HASENFUSS: Who could be eyeing AVI's fishing assets?
The quiet consolidation of the sector continues in the run-up to the awarding of new fishing rights in 2020. We also look at the goings on at Buildmax and Verimark
Consumer brands conglomerate AVI recently reeled in its cautionary notice around weighing up expressions of interest for certain of the group’s businesses. Most market watchers said this referred to AVI’s fishing operations: I&J, Australian seafood joint venture Simplot and a big abalone farming venture at Danger Point. One could imagine that fishing conglomerate Oceana Group, which now has an appetite for aquaculture ventures, as well as acquisitive black-controlled counters such as Premier Fishing & Brands and Sea Harvest all closely eyed AVI’s fishing assets. Perhaps AVI has the intention of formulating its own empowerment deal and retaining a minority stake in a new-look fishing company, to be separately listed on the JSE? Meanwhile, the quiet consolidation of the fishing sector continues in the run-up to the awarding of new fishing rights in 2020. The recently released annual report of unlisted abalone farming group Abagold disclosed the sale of a 30% stake in its Specialised A...
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