The company, one of the leading US companies in the harvesting and processing of seafood, announced it is evaluating refinancing opportunities. According to Bernt Bodal: “We are exploring different ways to recapitalise the company that would take advantage of the current favorable interest rates as well as present increased ownership opportunities for both management and our Alaska native partners.”
The Company does not anticipate any material operational or marketing structure changes as a result of this potential refinancing.
Original sale to comply with American Fisheries Act The original sale of American Seafoods came about to meet the terms of the American Fisheries Act, which not only created the highly effective pollock harvesting co-op in the Bering Sea, but also required that companies operating fishing vessels in the U.S.
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American Seafoods evaluates 'refinancing' options
The CEO of American Seafoods Group, Bernt O. Bodal, has stated that the company is evaluating various refinancing alternatives, one of which may involve a leveraged recapitalisation and management buy-out. The statement is intended to clarify news reports over the weekend.
21 August 2001 7:55 GMT
Updated
10 July 2012 6:34 GMT