Reuters logo
Lansdowne to vote against Cermaq's Copeinca deal
May 10, 2013 / 6:12 PM / 5 years ago

Lansdowne to vote against Cermaq's Copeinca deal

OSLO, May 10 (Reuters) - Lansdowne Partners, second biggest shareholder in Norwegian fishing firm Cermaq, said on Friday it would vote against Cermaq’s proposed acquisition of Peruvian fishmeal firm Copeinca.

“This decision reflects our belief that the potential benefits of fish farming consolidation (for both shareholders and the industry as a whole) are sufficiently high to warrant full consideration by all participants,” Lansdowne Partners said.

According to Cermaq’s website, Lansdowne Developed Markets Master held 6.57 percent of Cermaq as of May 6, while Lansdowne UK Strategic Inv Master held 0.93 percent.

Marine Harvest, the world’s biggest fish farmer, has made a hostile bid of $1.7 billion for state-controlled Cermaq on the condition that its board’s proposal to acquire Copeinca is reversed.

The Norwegian government, which owns 43.5 percent of Cermaq, has said the 105-crown-per-share bid is too low. (Reporting by Victoria Klesty)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below