Russia's Anti-Foreign Ownership Drive Likely Cause of Magnus Roth Sale of 33% of Ocean Trawlers
SEAFOODNEWS.COM by Eugene Gerden June 8, 2016
Russia’s billionaire Vitaly Orlov has become the sole owner of country’s largest fishing producer after buying out his partner, Magnus Roth. The company, Karat, controls 10 companies, specializing in fishing activities in the North and Far East of Russia on 15% of the quotas for pollock, cod and herring, and also the holding company that owns Ocean Trawlers. The holding company owned by Magnus Roth and Orlov is also the owner of Ocean Trawlers, which is the name of the company more well known in the West, but Ocean Trawlers is part of an integrated fishing operation.
Vitaly Orlov, Russia’s fishing tycoon and one of the founders of Karat holding, Russia’s largest fishing producer in terms of quota holdings, has officially announced the acquisition of the 33.3% stake of the company from his partner Magnus Roth, a well-known Swedish businessman and one of the co-owners of Karat.
Prior to the deal, Orlov owned the 67% stake in Karat, and Roth owned 33%. Vitaly Orlov will now become the sole owner.
Currently Karat controls 10 companies and annual revenue of Karat is US$500-600 million...
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