Copeinca Reels in Higher Bid

Apr 8, 2013

Norway's Cermaq has agreed to buy control of Copeinca in a deal valuing the Peruvian fishmeal exporter at NOK3.49bn ($610m), allowing the target to thwart a $550m hostile takeover from China Fisheries (CFG) and command a higher price. Copeinca had been seeking strategic alternatives since CFG made its offer in February, which the Peruvian found to low. State-controlled fish farmer and fish feed...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management