Pacific Equity Partners Offers $275M For Salmon Farm

Buyout shop Pacific Equity Partners has approached Tasmanian salmon farmer Tassal Group about a takeover bid for the company worth as much as 278 million Australian dollars ($275 million), Reuters reported. The firm would offer about $1.80 to $1.90 per share for Tassal, Reuters said. Pacific Equity Partners is based in Sydney, Australia.

(Reuters) – Australian private equity firm Pacific Equity Partners (PEP) said it has approached salmon farmer Tassal Group about making a takeover bid worth up to A$278 million ($275 million).

PEP said on Tuesday it would be prepared to offer A$1.80 to A$1.90 per share in a cash offer for Tassal, subject to due diligence on the company being satisfactory.

Tassal shares closed at A$1.61 on Tuesday.

PEP said it has requested due diligence on the company. A bid would be subject to agreement with the Tassal board.

($1 = 1.010 Australian Dollars) (Reporting by Michael Smith; editing by Balazs Koranyi)