(Public, HKG:1174), one of Asia's foremost vertically integrated seafood companies, has announced that has acquired a 19 percent indirect equity interest in Icelandic Holding France SAS and Icelandic Holding Germany GMBH.

The Board announced that all conditions precedent under the Sale and Purchase Agreement have been satisfied and Completion took place on 1 September 2011 (German time).

Accordingly, Pacific Andes currently holds 19 percent indirect equity interest in each of Icelandic Holding France SAS and Icelandic Holding Germany GMBH.

Pacific Andes Hongdao processing facilities

In 1994, the Group entered a significant era in its development by listing its ultimate holding company Pacific Andes International Holdings Limited on the Hong Kong Stock Exchange.

Its resource development and supply chain management division, Pacific Andes Resources Development Limited, and its coastal and deep-sea industrial fishing arm, China Fishery Group Limited, were listed on the Singapore Exchange Mainboard in 1996 and 2006 respectively.

Pacific Andes wild salmon
Today, the Pacific Andes Group is one of the world's largest seafood companies by market capitalization. Over the years, the continuous commitment in developing stakeholder value shown by Management has attracted the support of investors worldwide.

About Pacific Andes International Holdings Limited

Established in 1986, Pacific Andes is a fully integrated group of companies with operations across the entire seafood value chain which includes harvesting, sourcing, ocean logistics and transportation, food safety testing, processing and distribution of frozen fish products, as well as fishmeal and fish oil.

The Group's businesses span across the world with particular emphasis in the China market while it has processing factories located in China, Japan, North America and Peru.

Today, Pacific Andes is one of the world's largest fishing group, supplier of frozen fish into the China market and fish fillet producer.

Source:fis