Sea Harvest looks to acquire 59.6% of Perth’s Mareterram

Sea Harvest Holdings, a subsidiary of the JSE-listed Brimstone Investment Corporation, has entered into a bid implementation agreement with Perth-based agribusiness Mareterram, which could increase Sea Harvest’s already majority share in Mareterram to about 59.6%. Sea Harvest’s offer, announced Friday, involved a proportional cash offer of a maximum of A$19.7-million (or R225.4-million) to acquire half the shares held by other Mareterram shareholders at a cash price of A$0.35 (or R4) a share at the current exchange rate.