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Chinese investment company shows interest in sustainable fish farming

Emmi Rakkola

Helmet Capital Oy Ab has signed a Letter of Intent earlier this year and last week (28.6.2017) a Commitment Letter for selling 100% of Fifax Ab shares to a Chinese investment company (China Overseas Smart City Technology Group Co. Ltd. fully owned subsidiary of state-owned China Overseas Holding Group) in Beijing. Fifax Ab has signed previously a Letter of Intent with F-Fast Ab and ÅFAB to buy the premises and equipment according to their current rent agreements with Fifax Ab. As part of the transaction, Fifax Ab will use its right to buy the premises and equipment according to the Letter of Intent signed by the parties.

The target is to have the transaction closed by end of September in relation to final legal due diligence.

After the transaction Fifax Ab will continue its operations normally in Eckerö, Åland Islands. The purchaser has informed about plans to build several similar factories to potential new targets, incl. China. The knowhow Fifax Ab has gained during the construction phase will be crucial and important in the continuous operations building several new factories.

Potential market openings towards Chinese and Asian markets will also be available through the transaction to other local Fish industry companies. Chinese and Asian market has a constant need of fish both fresh, salted and smoked.

COHG is a state-owned enterprise, which was founded in Beijing in 1993. In the early period, COHG focused mainly on overseas business development under government direction such as infrastructure. Now it is engaged in many domestic industry sectors such as construction, transportation, real estate, environmental protection, water conservation, finance, culture and foreign trade. COHG’s mission is to serve the country. It is guided by the national development think tanks and follows global strategy. The organization lays emphasis on creativity, personnel training and the cooperation with worldwide partners.

COHG has wholly-owned subsidiaries, holding subsidiaries and joint stock companies, which are engaged in worldwide business and closely cooperate with Chinese state companies (Sinopec, CNPC, CNOOC, etc.). One of COHG’s flagship initiatives is the promotion of smart city development by its subsidiary China Overseas Smart City Technology (“COSCT”), a wholly owned state-owned enterprise of China Overseas Holding Group founded in 2015. 

China Overseas Smart City Technology has wholly-owned subsidiaries, holding subsidiaries and joint stock companies, namely Overseas Tian International Trade Co., Ltd., China Overseas Intelligent Equipment Leasing Company, CNOOC Foreign Financial Industry Company, China (Tianjin) International Financial Technology Companies, Caofeidian Hengtai Energy (the main executor of LNG energy projects), and several other companies. In relation to the smart city initiative, COSCT also develops smart/green technology funds.

Helmet Capital is a Finnish private equity firm, owned by its partners, which invests largely in small- and medium-sized (SME) Finnish companies.

Helmet invests directly into selected companies by investing the funds of private individuals, family businesses, and institutional investors that belong to their investment network as well as funds from Helmet partners. Helmet has operated in the private equity business since 1998. Since then, the company has managed four private equity funds of which one is still active today.

Helmet’s parters has extensive, long-term experience from many different industrial sectors and from various sized companies in which they have held a wide range of senior management positions. The combination of experience and expertise ensures successful investments.

Further information:

Helmet Capital Oy Ab

Pentti Kulmala, Partner

+358 400 321 554

pentti.kulmala@helmetcapital.fi

China Overseas Smart City Technology Co. Ltd. 

Robbin Bishoen, Senior Advisor

r.bishoen@tr-energy.com