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The new offer is expected to be launched in Oslo and Lima in early to middle of Jul 13 and scheduled to complete in the middle of Aug 13. I think China Fish's acquisition of Copeinca should be successful this time round...
UPRR18 ( Date: 24-Jun-2013 22:56) Posted:
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i did some searches, previously they said they have acquired so much in the end ... boleh. now they said 74% of copeinca. said said or real have ???
Agreed. Copeinca is a valuable (& tough) asset to acquire. Let's hear what the Mr Ng Joo Siang, China Fish Group Managing Director, has said.
" We are very pleased to be in such a strong position in launching this New Offer for Copeinca. It is our belief that this acquisition would offer an immense potential in creating shareholder value and represents a significant milestone towards the Group's strategic objective of increasing and securing access to fishery resources around the world."
" This acquisition is envisioned to be transformational, elevating China Fishery to become Peru's largest producer, as well as among the world's largest producers, of fishmeal and fish oil,"
In this aspect, I think the acquisition is good.
UPRR18 ( Date: 24-Jun-2013 22:20) Posted:
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Blanchard ( Date: 24-Jun-2013 17:42) Posted:
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Glad to know that.
I have been holding on to 20+ lots of ChinaFishery shares.
With the latest average down being 37.5cents.
coolthrusts ( Date: 24-Jun-2013 15:39) Posted:
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China Fishery Group launches offer for remaining Copeinca shares!
(Reuters) - China Fishery Group is launching an offer for all remaining shares in Peruvian fishmeal firm Copeinca, once the target of a bidding war with Norwegian fish farmer Cermaq.China Fishery Group's latest offer is 68.17 crowns per share, 8.47 crowns above the offer it made for the company in April. Copeinca shares closed at 58.0 crowns on FridayChina Fishery Group said it effectively controlled 74.23 percent of Copeinca shares.Cermaq said later it welcomed China Fishery Group's offer and has pre-accepted to sell its shares in Copeinca to the Asian company. (Reporting by Gwladys Fouche, editing by Henrik Stolen)
Guess thats the reasons for the halt.
Senior Blanchard any opinion on this?
http://www.reuters.com/article/2013/06/24/chinafisherygroup-copeinca-idUSWEB0074220130624
| Date of Trading Halt * | 24-06-2013 | |
| Time of Trading Halt * | 0830 hours | |
| Reasons for Trading Halt * |
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Fish consumption, prices both expected to rise more than most commodities over next decade says OECD
for your reading pleasure...
Global fish prices leap to all-time high ....
Global fish prices have leapt to all-time highs as China’s growing appetite for high-end species – from tuna to oysters – runs up against lower catches.
The UN Food and Agriculture Organisation’s global fish price index, an industry benchmark that tracks the cost of wild and farmed seafood, hit a record high in May, up 15 per cent from a year ago and above the peak set in mid 2011.
“In the coming months, supply constraints for several important species are likely to keep world fish prices on the rise,” the Rome-based FAO has warned.
Changes in the Chinese diet have already boosted demand for grains and livestock feed, but the index suggests that the same phenomenon is under way in the seafood industry, where the total value of fish trade is expected to reach $130bn this year.
...more...
hopefully the management will have good solutions to this stalemate...cheers to all those vested...
Ya Starlene. No update from China Fish since last Vesak Day. Guess the management is being prudent in view of current market situations. This is China Fish's strength which I like, and what's more, now cash-rich.
In addition, about 8 months from today, those vested could expect to see > 2% dividend credited into their bank account by end Feb 14 (as China Fish full year results would be out by Nov 13).
starlene ( Date: 11-Jun-2013 09:58) Posted:
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Blanchard ( Date: 24-May-2013 23:39) Posted:
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China Fish is “currently reviewing its options in light of the Cermaq and Copeinca announcements and will update the market in due course.”
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_34984830C0BF939048257B7500267AC3/$file/CFGL-CopeincaAnnouncement-240513.pdf?openelement
UPDATE FROM THE BOARD OF DIRECTORS OF COPEINCA ASA IN CONNECTION WITH THE VOLUNTARY OFFERS
http://www.reuters.com/article/2013/05/23/idUSnHUGd6gy+70+ONE20130523
The current status looks something like this:
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China Fish's Copeinca Shares and rights to Copeinca Shares |
Dyer-Coriat family's Copeinca Shares |
Cermaq's Copeinca Shares |
Remainder's Copeinca Shares |
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~35.8% |
~32.6% |
~20% |
~11.6% |
China Fish needs to have at least ~14.21% more. But got some update from the Copeinca Board:[Tough to acquire this valuable Copeinca? Would China Fish give up?]
" The Board has been informed by each of Dyer Coriat Holding SL (" DCH" ) and Weilheim Investments SL (" Weilheim" ) that each of them will not accept the current offer from CFGL. Together with the announcement from Cermaq, this means that shareholders controlling 51.5% of Copeinca's outstanding shares will not accept the current offer from CFGL and the Board consequently recognises that the CFGL offer condition of minimum 50.1% acceptance will not be satisfied.
The Board will reinitiate a process which will seek to maximise value for all Copeinca's shareholders by soliciting interest from parties potentially interested in acquiring Copeinca. The Board is confident that Cermaq, DCH and/or Weilheim would consider favourably any transaction that may result from such process, provided that this would be in the best interest of all Copeinca's shareholders."
1. Cermaq said it would not complete the bid for Peruvian fishfeed firm Copeinca, in line with its shareholders wishes, but that it also would not accept the present voluntary offer on its Copeinca stake from China Fishery Group. Cermaq holds about 20% Copeinca's shares.
http://www.reuters.com/article/2013/05/23/cermaq-copeinca-idUSWEB005QM20130523
2. Still awaiting any new offer from China Fish. Would it be enough for China Fish to obtain the minimum acceptance level of 50.01%?
[The acquisition of Copeinca by China Fish would be transformational, elevating China Fish to become Peru’s largest producer, as well as among the world’s largest producers, of fishmeal and fish oil. And Peru is the largest producer and exporter of fishmeal and fish oil by volume in the world.]
China Fish's current offer will expire after today. Guess a new offer would be out by tonite?
Marine Harvest's offer might be out today too?
serialain ( Date: 23-May-2013 10:31) Posted:
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