Russian Fish Co. Gets Management Buyout as it is Separated from Russian Aquaculture Co.
SEAFOODNEWS.COM [SeafoodNews, AK&M] - August 10, 2016
Russian Aquaculture has announced the successful completion of the sale of a 100% stake in fish distributor Russian Fish Company, Russian Aquaculture announced.
Russian Fish Company, the largest seafood distributor in Russia, has been taken private by its managers and their investors in a transaction that spun the company off from Russian Aquaculture, which had a 100% stake.
The asset was acquired by a pool of investors spearheaded by the management team of Russian Fish Company. The transaction value reached approximately RUB 1.8 billion (net of RUB 650 million earned by Russian Aquaculture in dividends).
As a result of this transaction, the debt burden of Russian Aquaculture Group has decreased by RUB 2.3 billion, because the Russian Fish Company business was sold together with the current debt liabilities.
Russian Fish Company is a distributor of chilled and frozen fish and marine products in Russia. It currently distributes about 50 kinds of fish and seafood...
To Read Full Story Login Below.