One Carlyle will include China Fishery Group Ltd. The Carlyle Group agreed to invest $190 million into China Fishery. It will buy 113.5 million shares and 26.7 million in warrants. WSJ reported:
China Fishery is an industrial fishing company that fishes mainly in the North Atlantic. Although it sells fish in West Africa, Northeast Asia and Europe, almost 75% of its revenue came from sales in China in the six months ending March 28.
Patrick Siewert, senior director of Carlyle, said in the statement. He said Carlyle will work with the company to build its businesses and "set higher standards in sustainable practices for the industry."
China has a history of delivering toxic products to customers. Research on whale tissue shows toxic risks from fish and mammals higher up the food chain. Ultimate predator Carlyle ignored risk in the past.
How might greed express at China Fishery? Staid SemGroup and Synagro Technologies could be indicators.
