Japanese conglomerate Maruha Nichiro, ranked as the world's biggest seafood company in the IntraFish 150, acquired a 50 percent stake in Australian fishing company Austral Fisheries from Spanish multinational Pescanova.
The deal went through for an undisclosed amount and makes the group's subsidiary, Maruha Nichiro Seafoods, the largest shareholder in the group, together with Kailis Group, which owns the other 50 percent in Austral.
The move is part of Maruha's mid-term business plan to consolidate its business fundamentals and expand its business along with its next globalization strategy in 2014-2016, it said in a statement.
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