RCL FOODS – ACQUISITION OF FISHING INTERESTS
Shareholders are referred to the announcement released on SENS on 7 November 2013, in which they were advised that the Competition Commission had approved the proposed acquisition by Oceana of the fishing interests of Foodcorp, subject to certain conditions, one of which was not acceptable to the parties.
Accordingly, the parties filed a Request for Consideration with the Competition Tribunal, challenging the condition in question. The Tribunal approved the transaction subject to conditions which were again not acceptable to the parties. The parties chose to take the matter on appeal before the Competition Appeal Court, which court has today upheld the appeal and approved the merger subject to conditions acceptable to the parties. For more information, shareholders are referred to the announcement released by Oceana on SENS.