Australian mining billionaire invests $20 million in salmon farmer

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Andrew “Twiggy” Forrest takes 7.33 per-cent stake in Tasmanian Huon Aquaculture.

The Examiner reports that Andrew Forrest, one of Australia’s richest people, has spent AUD 20 million (EUR 12.6 million) for a 7.33 per-cent stake in Huon Aquaculture.

Forrest’s Tattarang Agrifood, one of Australia’s largest private investment groups, invested in the ASX-listed fish farmer on June 17th.

A one-time stockbroker and keen amateur boxer, Forrest, nicknamed “Twiggy”, is the founder and largest shareholder (26 per-cent) of Fortescue Metals Group, an Australian iron ore producer.

In February, Forrest took a 5.1 per-cent stake in Australia’s biggest stockfeed processor Ridley. In April, Nutreco’s aquaculture division Skretting announced its intention to expand its production capacity through the purchase of Ridley’s extrusion facility in Westbury, Tasmania. That deal is expected to conclude during the year.

Currently at AUD 2.55 on the Australian Securities Exchange, Huon’s share price has increased 9.1 per-cent since the 17th of June.