Approval from the Competition Tribunal of the deal between a consortium of black-owned companies led by the Sea Harvest Group and Viking Fishing Holdings is the final step of the R885 million transaction. Sea Harvest Aquaculture, a wholly-owned subsidiary of Sea Harvest, is also acquiring 51% of the issued share capital of Viking Aquaculture Proprietary Limited.
The purchase price is to be satisfied through a combination of cash on hand, bank facilities, an issue of Sea Harvest shares and vendor funding.
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