Chilean merger forms su­per group

Fish Farmer - - World News -

AGROSUPER, one of Chile’s top food pro­duc­ers, last month an­nounced plans to buy AquaChile for $850 mil­lion, Reuters re­ported.

AquaChile, one of Chile’s largest salmon pro­duc­ers, had re­cently struck a $255 mil­lion deal to pur­chase two smaller Chilean fish farm­ing op­er­a­tions, boost­ing the com­pany’s ac­cess to the Ma­gal­lanes re­gion of Patag­o­nia.

Sev­eral salmon pro­duc­ing com­pa­nies in Chile have moved to con­sol­i­date in re­cent months as de­mand and prices for salmon have in­creased and Chilean op­er­a­tions re­cover from sev­eral years of out­breaks of red tide and salmon spe­cific viruses.

In 2016, an out­break of red tide in Chile killed mil­lions of fish, dev­as­tat­ing the world’s sec­ond big­gest salmon ex­porter and re­sult­ing in losses up­wards of $800 mil­lion.

AquaChile last month had an­nounced a plan to is­sue $340 mil­lion worth of shares on the Nor­we­gian stock mar­ket to fi­nance in­vest­ment and ac­qui­si­tion goals.

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