* Asian firm offers NOK 59.70/shr, matches Cermaq bid
* Cermaq, China Fishery Group want to secure fishmeal supply
* Copeinca shares trade significantly above bid at NOK 63
OSLO, April 11 China Fishery Group
upped the stakes in a fight over Peruvian fishmeal company
Copeinca on Thursday with a new takeover offer that
matches one from rival Cermaq.
The Asian company's offer of 59.70 crowns per share is an
increase of nearly six crowns on an earlier offer. Its rival
Norway-based Cermaq said earlier this month it had signed deals
to increase its stake in Copeinca to more than 50 percent.
Cermaq also launched an offer at 59.70 crowns per share for
all remaining shares in Copeinca, Peru's second biggest fish
The current bids from the two companies value Copeinca at
about 4.2 billion crowns ($732.43 million), according to Reuters
Cermaq said on Thursday it was confident of its offer and
that it was weighing its options after the latest bid by China
Both Cermaq and China Fishery Group want to ensure a steady
supply of fishmeal, which is made from fish and the bones and
offal from processed fish and is used to feed farmed fish as
well as poultry, pigs and pets.
Copeinca also produces fish oil, which is used to feed
farmed fish and as a health supplement.
Peru is the world's top exporter of fishmeal and each year
brings in about $1.8 billion in export receipts to the Latin
China Fishery said it now controls 32.3 percent of
Copeinca's shares and that its offer was extended to May 10 from
Copeinca shares rose 1.2 percent to 63 crowns on the Oslo
Bourse. The bids exclude a planned dividend of 3.56 crowns.
Adjusted for this, the shares are at 59.44 crowns, slightly
below the two bids.
($1 = 5.7344 Norwegian kroner)
(Reporting by Gwladys Fouche. Editing by Jane Merriman)