Singapore-listed China Fishery Group has been seeking to buy shares from Peru's Veramar Azul S.L. through a call option and has threatened the firm with arbitration over its failure to honour the option.
The firms have now reached a settlement and Veramar has transferred its shares, putting China Fishery Group one step closer to completing its takeover of Oslo-listed Copeinca.
China Fishery Group has been pursuing Copeinca for months. It has bought 17.2 percent of the shares and securing pre-acceptances for another 57 percent in a public offer which remains open until July 31.
Copeinca, worth $806 million at current prices, was trading unchanged on the Oslo bourse on Friday.
