The proposed proportional takeover of West Australian fishing
fleet operator and seafood trader Mareterram through South
Africa's Sea Harvest has gained approval
from the South African Reserve bank (SARB).
"The SARB approval changed into one of the situations
precedent for the transaction and has now been fulfilled," Mareterram
stated on Friday.
Sea Harvest is already Mareterram's largest shareholder with
a stake of 19.nine per cent, and is seeking to collect 50 in step with cent of
the Mareterram stocks it does now not currently own, providing 35 cents in line
with share.
If the offer is absolutely accepted, Sea Harvest's ownership
of Mareterram will increase to a maximum of about fifty nine according to cent,
for a consideration of approximately $19.7 million.
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