George Weston closes sale of Heritage Salmon

The Fish Site
by The Fish Site
4 August 2005, at 1:00am

CANADA - Food processor and distributor George Weston George Weston Limited has announced the closing of the previously announced transaction for the sale of its west coast aquaculture operations to EWOS Canada Ltd a subsidiary of the Norwegian based Cermaq ASA. Weston will receive total net proceeds for this discontinued business of approximately C$38m (US$31.2m) which will result in an after tax loss on sale of approximately $24 million. The company announced its intention to sell the business in February. Source: