China Fishery Group settles Copeinca share dispute

China Fishery

26/07/2013 08:39

OSLO, July 26 (Reuters) - China Fishery Group  CNFG.SI  raised its stake in Peruvian fish feed maker Copeinca  COPE.OL  to 74.3 percent from 65.3 percent after settling a dispute with a Peruvian investor who had refused to sell, Copeinca said in a statement on Friday. Singapore-listed China Fishery Group has been seeking to buy shares from Peru's Veramar Azul S.L. through a call option and has threatened the firm with arbitration over its failure to honour the option. The firms have now reached a settlement and Veramar has transferred its shares, putting China Fishery Group one step closer to completing its takeover of Oslo-listed Copeinca. China Fishery Group has been pursuing Copeinca for months. It has bought 17.2 percent of the shares and securing pre-acceptances for another 57 percent in a public offer which remains open until July 31. Copeinca, worth $806 million at current prices, was trading unchanged on the Oslo bourse on Friday. (Reporting by Balazs Koranyi; Editing by Elaine Hardcastle) ((Balazs.Koranyi@thomsonreuters.com)(+47 22 93 69 62)(Reuters Messaging: balazs.koranyi.thomsonreuters.com@reuters.net)) Keywords: CHINAFISHERY COPEINCA/