China Fishery Group creditors greenlighted for takeover; will run Peruvian operations by end of year

China Fishery Group’s fishmeal business will continue to operate as normal but in the hands of creditors once final legal matters have been tidied up, a source familiar with the case told IntraFish.

This comes after a US court in New York approved the takeover of China Fishery Group’s (CFG) fishmeal business by creditors including HSBC and Bank of America after no appropriate bids were received from potential buyers.

A settlement agreement was signed on June 2 lining out the takeover, which was approved by the court last week.