Mining magnate Andrew "Twiggy" Forrest has snapped up a sizeable chunk of Tasmanian salmon farmer Huon Aquaculture.
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Mr Forrest's Tattarang Agrifood company became a substantial holder of ASX-listed Huon on June 17.
Tattarang bought more than 8.05 million shares for nearly $20 million, taking a 7.33 per cent stake in the company.
Tattarang is one of Australia's biggest private investment groups and is the holding company for the Forrest family's private business interests.
It has six business divisions across a range of sectors.
Huon's share price has spiked in recent days, from $2.26 on June 15 to $2.58 on Tuesday morning.
The share price of the other big listed Tasmanian salmon grower, Tassal, was relatively stable during the period.
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Mr Forrest is chairman of big iron ore miner the Fortescue Metals Group.
Tattarang holds 36 per cent of Fortescue.
Huon reported a statutory loss of $95.3 million for the first half of the financial year, and was hit by a $113.9 million impairment charge.
Revenue climbed by 24 per cent to $220.1 million, but the company said earnings continued to be significantly affected by coronavirus.
Sean Ford
The Advocate Newspaper, Tasmania. Business, economics, politics, crime.
The Advocate Newspaper, Tasmania. Business, economics, politics, crime.
