South African fishing firm Oceana Group finally went ahead with the acquisition of Foodcorp in a ZAR 400 million (€28.6 million/$34.1 million) deal, after the Competition Appeal Court upheld the group's appeal and confirmed Oceana's entitlement to include the pelagic fishing rights in its proposed acquisition.
Francois Kuttel, CEO of Oceana, said that in the absence of securing the pelagic fishing rights, the company could have not gone ahead with the deal.
"The pelagic fishing rights were a commercial imperative for the acquisition to proceed," the group said in a statement.
The
