South Africa's Sea Harvest to buy Viking Fishing assets for $66 mln
JOHANNESBURG, June 13 (Reuters) - South African frozen fish
supplier Sea Harvest Group said on Tuesday a consortium
of black investors it leads will buy the fishing business of
domestic peer Viking Fishing Group for 885 million rand ($66
Sea Harvest announced in December that it was heading a
consortium of broad-based black economic empowerment investors
that was in talks to acquire Viking Fishing's entire fishing
business and a 51 percent stake in Viking Aquaculture.
The deal will be funded by the consortium through a
combination of cash, bank loans, an issue of 19.2 million Sea
Harvest ordinary shares and vendor funding, Cape Town-based Sea
Harvest said in a statement.
Since listing in 2017, Sea Harvest has actively sought to
grow its business through acquisitions.
Privately held Viking Group was founded in 1980 and its
fishing business operates a fleet of 30 vessels along the South
Africa coast from Cape Town to Maputo in Mozambique.
($1 = 13.3342 rand)
(Reporting by Nqobile Dludla
Editing by James Macharia)
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