China Fishery said yesterday that it will pay $555.8 million offer for Copeinca, Peru’s second-biggest fishing company. The acquisition would make China Fishery Peru’s biggest producer, and also among the world’s leading producers of fishmeal and fish oil.
The purchase would diversify China Fishery’s revenue base, be consistent with the firm’s strategy of accessing fishing resources in key markets and increasing its catch quota. Peru is the biggest producer and exporter of fishmeal and fish oil by volume in the world, according to the International Fishmeal and Fish Oil Organisation statistical yearbook, 2011.
China Fishery, the Singapore-listed subsidiary of frozen seafood supplier Pacific Andes International, will...
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