Russia’s Federal Antimonopoly Service (FAS) has given its approval to Murmansk-based Karat-1 OJSC -- a unit of Vitaly Orlov's Norebo Holding -- to acquire a 100 percent stake in fellow fishing company Saami LLC.
The new acquisition would give Norebo -- already Russia's largest quota holder -- an extra 8,870 metric tons of Atlantic cod and 2,700 metric tons of haddock fishing quotas. In addition, Saami is involved in Barents Sea shrimp catching.
The acquisition deal, however, is currently complicated by a corporate conflict within Saami regarding unsettled ownership of shares in the company.
