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Commission – Sanford Talks Conclude
Commission – Sanford Talks Conclude
The Treaty of Waitangi Fisheries Commission confirmed today that it was no longer exploring merger possibilities with publicly listed seafood company Sanford Limited.
A possible merger of Sealord Group Limited and Pacific Marine Farms Limited with Sanford was being discussed between the parties.
Chairman Shane Jones said that while a merger was not being progressed, other opportunities would be looked at in due course. “A full merger right now is not feasible. There were a number of issues that could not be satisfactorily resolved by the boards of the respective companies,” he said.
“Discussions between the companies were positive and amicable and in fact highlighted a number of areas in which the Commission’s companies and Sanford might be able to work together to our mutual advantage; the potential for this would be explored in the future,” Mr Jones said.
The Commission believed
there were considerable opportunities for rationalisation to
occur in the fishing
industry.
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