Chinese Close in on Copeinca

Chinese Close in on Copeinca

M&A

China Fishery Group (CFG) has raised its stake in Peru’s Copeinca to 74.3% from 65.3% after settling a dispute with a Peruvian investor, Copeinca says, continuing a turnaround in its effort to take control of the fishery. Under threat of arbitration regarding a call option, Veremar Azul has agreed to transfer its shares to CFG. The Chinese group first made a NOK53.85 ($9.12) per share offer for Copeinca in February, and made an improved NOK68.17 offer last month after Copeinca considered the ini

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