Published 17 May 2018, by  Sandile Mchunu 

JSE-LISTED Premier Fishing and Brands has acquired a 50.3 percent stake for R85 million in the Talhado Fishing Group in South Africa after the competition authorities and the department of agriculture, forestry and fisheries (Daff) gave the transaction the green light yesterday).

JOHANNESBURG – Premier chief executive Samir Saban said the approval saw the group fulfilling all the outstanding conditions to the transaction.

Saban said Talhado would extend Premier Fishing’s footprint in Europe. He said Talhado would be a strategic value-add to the group.

“This acquisition would lead to further synergies among the existing operations and enhance value to all stakeholders of Premier,” Saban said.

Premier Fishing is one of the largest black owned and managed fishing companies in South Africa.

The deal was first announced in October last year, with the effective date of acquisition being in November, making it one of the largest transaction made by Premier since its listing in March 2017.

Saban said Talhado had a solid asset base in the squid sector and the benefits were expected to be realised within the short- to medium-term.

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