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Approval Of Sealord Deal

Final approval of Brierley’s sale of its half share in Sealord has ended the long process of finding a new partner for one of New Zealand’s most successful seafood companies.

Te Ohu Kai Moana chairman Shane Jones said today that work could now continue on growing this key Maori asset and putting more Maori into the business and activity of fishing.

“We are pleased with the decision of the Overseas Investment Commission and the Government approving this transaction. That they can see very real benefits to New Zealand from this deal only adds confidence to our decision to form an alliance with Nissui,” he said.

“Te Ohu Kai Moana was mindful that the previous application to the OIC was turned down by the Government because it was considered that it did not bring sufficient benefits to New Zealand. This is a new deal that is good for Maori, good for Sealord and good for New Zealand,” Mr Jones said.

“With commitment from both partners, we will continue growing this Maori asset, creating up to 700 new, skilled jobs in the process. Te Ohu Kai Moana envisages this will further increase the number of Maori working in the fishing industry,” he said.

“Final approval of the sale puts an end to the long process of finding a new partner for Sealord.”

“Te Ohu Kai Moana thanks Brierley Investments for the years in which it has been a partner. In that time, Sealord has grown into one of the top 10 seafood companies in the world with its value-added strategy and focus on quality.”

“We welcome this partnership with Nissui. We are delighted to have a partner in Sealord who shares our long-term commitment to the company and the New Zealand fishing industry,” Mr Jones said.

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