1 Sep 2010

Cannery takeover deal in American Samoa may go ahead next year

8:39 am on 1 September 2010

Businessman Carlos Sanchez, who has been involved in American Samoa's negotiations with Tri Marine International and Chicken of the Sea, Samoa Packing says the takeover plans may have to wait until next year.

Mr Sanchez, who is in California, said things are progressing slowly but surely, and believes the only question that's still pending is the term of the lease.

Samoa Packing has three years left on its lease of the government land at Atuu where the plant is situated.

The American Samoa Government can offer Tri Marine a lease just short of ten years, but if Tri Marine wants the lease for longer it will require Fono approval.