Samuel Dyer Coriat sold the shares he had in Copinca. (Photo: Виталий Смолыгин/FIS)

Dyer sells all its Copeinca shares to Chinese group

The fishing company China Fishery Group Limited (CFGL) completed the acquisition of Copeinca share portion, which was still in the hands of Dyer Coriat Holding, for which it paid USD 223.2 million.

The purchase was made on the Oslo Stock Exchange, where the papers of the fishing company are listed.

This business implies the Dyer Group unconditionally and irrevocably transferred 19,098,000 shares (27.21 per cent) to Grand Success Investment, a subsidiary of the Chinese company in Singapore, reported Copeinca.

Both parties agreed that the share price is USD 11.25 at the exchange rate on 23 August, 2013.

CFGL officially owns 99.1 per cent of Copeinca, one of the largest producers of fishmeal and fish oil in Peru.

Copeinca has five plants on the Peruvian coast and exports its products mainly to China, Japan, Germany, Canada, Chile and Denmark.

Last February, the Asian company offered USD 9.43 for each share of the fishing firm Copeinca, which was rejected by Dyer.

Later, the Chinese group tried to reach a sale agreement with the Norwegian firm Cermaq to acquire its shares in Copeinca but the refusal of the shareholders of the Norwegian company brought down the operation.

A few years ago, the Chinese group began to acquire small Peruvian fishing companies at strategic points in Peru in order to consolidate its position in the fishmeal market. This strategy is closely linked to the growth of global aquaculture industry and to the increased livestock production.

Related article:

- Copeinca achieves preliminary agreement to sell its shares to Chinese group

Photo: Виталий Смолыгин/FIS

By Analia Murias
[email protected]
www.seafood.media
 

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