24 Jun 2008

Talks underway over sale of American Samoa cannery

10:08 am on 24 June 2008

South Korean food group Dongwon is in talks to buy StarKist Samoa, the larger of the two canneries in American Samoa.

The cannery is owned by Del Monte Foods Co

Reports from Korea say the Dongwon Group is expected to buy StarKist for around $300 million.

A spokesman at Dongwon F&B Co Ltd, which makes canned tuna and other food products said discussions are underway but no decision has been made yet.

Del Monte, said in May it was exploring alternatives for StarKist, including a possible sale.

Star Kist Vice President Barry Mills had told a hearing of the Tax Exemption Board in May that the sale was to be concluded in 30 days.