Business
Twiggy Leaps into Salmon Pond
by Michael McGowan, The Guardian
The iron ore billionaire Andrew ‘Twiggy’ Forrest has waded into Tasmania’s controversial salmon industry investing almost $20m in the troubled Huon Aquaculture Group.
Through his family’s private investment arm, Tattarang, Forrest has hauled in a 7.33% stake in the Tasmanian salmon farmer, with a statement made to the Australian Stock Exchange late on Monday confirming the purchase.
The investment comes during a period of significant turmoil for Tasmania’s $800m salmon farming industry. Conservationists in the state have been waging a campaign against the industry amid growing concerns about its impact on the state’s environment, and earlier this year the company announced it would launch a strategic review after posting a $95.3m loss on the back of Covid-19.
Read the full story at The Guardian.
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