Norway Pelagic increases ownership in Shetland Catch
Norway Pelagic's plant in Liavag. (Photo: Norway Pelagic)
(UNITED KINGDOM, 12/12/2012)
Norway Pelagic ASA has increased its ownership in Shetland Catch Ltd from 25 per cent to 50 per cent through a share issue of GBP 3 million (EUR 3.71 million), valuing Shetland Catch at GBP 12 million (EUR 14.9 million). Norway Pelagic made its initial investment of GBP 1.53 million (EUR 1.9 million) in 2007.
The news comes five months after the Scottish company was hit by a GBP 1.5 million (EUR 1.86 million) confiscation order over a black fish scam. The company also had to pay a GBP 150,000 (EUR 186,000) fine after previously pleading guilty to assisting vessel skippers in making undeclared landings, reports Herald Scotland<...
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