Sea Harvest to acquire Terrasan’s pelagic business, a portion of its abalone business

Seafood and aquaculture company Sea Harvest aims to acquire 100% of investment group Terrasan’s subsidiaries engaged in the catching, processing and sale of pelagic fish, and 63.07% of Terrasan’s subsidiaries engaged in the farming, processing and sale of abalone for an initial amount of R965-million, to be settled in shares and cash. As a part of the transaction, Sea Harvest will acquire Terrasan’s vertically integrated pelagic fish business, West Point Fishing, which is based in St Helena Bay, in the Western Cape.