BEIJING, June 25 (Xinhua) -- Shanghai Kaichuang Marine International Co.,Ltd. (600097.SH) announced late Monday that its wholly-owned subsidiary is poised to acquire a 30-percent stake in Canada's French Creek Seafood Ltd (FCS) for 3.3 million Canadian dollars.
Currently, the wholly-owned subsidiary of the Shanghai-listed company is holding a 70-percent stake in the FCS, meaning that after the acquisition deal, it will hold a 100-percent stake in the Canadian company.
According to a filing to the stock exchange, the acquisition of the remaining 30-percent stake in the FCS is expected to be completed by December 31, 2024 at the latest.
FCS is engaged mainly in the acquisition, processing and marketing of seafood products on the West Coast of North America. (Edited by Wu Rui, hupingchao@xinhua.org)
A single purchase
