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Anchovy fisheries. (Photo: Copeinca)

Copeinca achieves preliminary agreement to sell its shares to Chinese group

  (PERU, 6/27/2013)

Copeinca, the second largest fish product exporter from Peru this week announced a preliminary agreement to sell the majority of its shares to China Fishery Group.

The Peruvian firm directory reported that the Asian company presented a new purchase offer of NOK 68.17 (EUR 8.50) per share, NOK 8.47 (EUR 1.06) above the offer made in April to the Peruvian group Dyer Coriat Holding, and to Weilheim Investments.

China Fishery Group has increased its offer several times from the value amounting to NOK 53.85 (EUR 6.72) proposed in February, which was rejected by the Peruvian company at that time.

Peru is currently the largest fishmeal producer in the world and its exports -- mainly destined to Europe and China -- generate revenues of about USD 1,800 million per year, Reuters reported.

The Peruvian fishing firm expressed in a press release that Copeinca Directory "welcomed the new offer that rates Copeinca total capital at NOK 4,786 million (EUR 597.29 million)."

"The new offer price represents an attractive opportunity for Copeinca shareholders and represents an opportunity for the continued investment and development of business" of this firm in Peru, the firm added.

Copeinca believes that China Fishery Group reached a "pre-acceptance" agreement of the new offer with the Peruvian fishing firm’s shareholders: Cermaq ASA, Dyer Coriat Holding and Weilheim Investments.

If this covenant is settled, the Chinese company will control 74.23 per cent of the total Copeinca shares, participation including 9.9 per cent of the shares of Ocean Harvest that China Fishery Group acquired last March.

The Chinese group, which since 2066 has been on the Singapore Stock Exchange, some years ago began to acquire small Peruvian fishing companies at strategic points in Peru, where it also has its own plants.

Related article:

- Cermaq to sell its Copeinca shares to China Fishery

By Analia Murias
[email protected]
www.fis.com

 

 


Information of the company:
Address: Calle Francisco Graña 155, Urb. Sta. Catalina
City: Lima
State/ZIP: (Lima 13)
Country: Peru
Phone: +51 1213 4000
Fax: +51 1213 4034
E-Mail: [email protected]
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