CBC News is reporting that talks are underway - again - that might see Fishery Products International Limited's (FPIL) groundfish assets in Newfoundland and Labrador sold off.
As in the last go 'round, two of the potential buyers are Barry Group and Ocean Choice, owned by the Penney Group.
A third proposal is expected from FPI management.
As noted on Bond Papers last May, the goal of the provincial government's changes to the FPI legislation was actually to make it easier to break up the company and sell off the assets. The FPI bill gave cabinet the authority to approve any sale of FPI assets. Under the original Act, a sale of assets would have required a change to the legislation, meaning it would had to come before the legislature for public debate.
