Pac Andes / China Fish

Pac Andes / China Fish: China Fish, part-owned by U.S. private equity firm Carlyle Group , plans to raise about US$250 m in a rights issue. The Singapore-listed industrial-fishing company plans to use the proceeds to acquire Norwegian fish-processor Copeinca ASA . If the acquisition falls through, China Fish will still go ahead with the rights issue and use the proceeds for other purposes. China Fish declined to comment. Carlyle bought ~11% of China Fish in 2010. As part of that deal, Carlyle also bought warrants, which if exercised, would raise the U.S. company's stake in China Fishery to 13.6%. Copeinca has a market value of about NOK 2.6b (US$455 m). China Fishery, which fishes mainly in the Pacific, and its parent, Pacific Andes, remain on trading halt.