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Sea Harvest talks to Viking

Sea Harvest and its parent Brimstone Investments say negotiations are underway to acquire Viking Fishing for an undisclosed amount.

Sea Harvest said on Monday 11 December that it was leading a consortium of broad-based black economic empowerment investors which is considering buying all of Viking Fishing.

Under the deal, the JSE-listed fishing group, which was unbundled from Brimstone in March, will also acquire 51% of Viking Aquaculture.

Sea Harvest said Viking, founded in 1980, supplies seafood including hake, abalone, and prawns to wholesalers and retailers.

Conditions for the deal include due diligence of Viking Fishing and Viking Aquaculture, along with ministerial and competition authority approvals.

Sea Harvest’s share price remained flat at R11.55 on the JSE, giving Sea Harvest a market value of R2.9bn.

Source: www.fastmoving.co.za

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