South Africa's Sea Harvest ups stake in Viking Aquaculture with $11.3 million acquisition

South African seafood giant Sea Harvest announced Wednesday it is acquiring an extra 28 percent stake in abalone producer Viking Aquaculture for ZAR 210 million (€10.7 million/$11.3 million), bringing its total holding in the company to 82 percent.

Sea Harvest already owns 54 percent of the shares in Viking Aquaculture.

The group entered into an agreement on March 8 to purchase the shares from minority shareholders Viking Fishing Group Administration (VFGA) and Odin Investments, which previously held 18 percent and 10 percent respectively.