NZX-listed seafood company Sanford says it has sold its spiny rock lobster quota in the southern South Island to Deltop Holdings, a subsidiary of Fiordland Lobster Co, for $49.3 million.
The quota is in Fisheries Management Areas CRA7 (Otago) and CRA8 (Southland).
Sanford's shareholding represented 0.3 per cent of CRA7 and 2.3 per cent of CRA8.
The company is also considering the sale of its CRA2 quota holding, which includes the Hauraki Gulf and Bay of Plenty.
This transaction was not considered material, the company said.