Following the collapse of the group’s bid for Brierley Investments’ share in fellow New Zealand firm Sealord, fishing company Sanford may well be looking to redirect its interest in financial investment into Fishery Products International.(FPI)
Sanford already controls 15% of the Canadian company, the maximum stake currently allowed by Newfoundland legislation designed to protect a publicly listed company, but other shareholders at FPI are voting that removing the restriction is in the best interests of the company.
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If this does happen, however, it is likely that a new bidding war will ensue, as Freezing Plants Corporation in Iceland and Canadian Clearwater Fine Foods have also expressed interest in expanding their shares in FPI.
