adsTantalizers Plc said it has reached a preliminary agreement to acquire Nigeria’s largest indigenous fisheries group in a major move that deepens the emerging foodtainment conglomerate’s diversification into Nigeria’s blue economy.
The board of Tantalizers at the weekend completed a Memorandum of Understanding (MoU) with Karflex Fisheries Limited and Karflex Investment Limited to acquire the assets of the two companies and integrate these significant fishing assets into Tantalizers Fisheries Limited, the company said in a statement seen by BusinessDay.
Under the agreement, the assets under consideration included 24 fish trawlers and shrimpers, 13 cold room facilities and related commercial fisheries infrastructure.
With the signing of the MoU, Tantalizers Fisheries Limited and its appointed financial advisers – GTI Capital and United Capital – will undertake a comprehensive legal, financial, technical, operational, environmental, and commercial due diligence exercise on the target companies and their assets within an agreed timeline.
Speaking at the signing ceremony, Adam Nuru chairman, Tantalizers Plc, said the MoU was part of Tantalizers Plc’s strategic diversification and expansion into Nigeria’s blue economy and commercial seafood sector.adsads
