Multiexport Foods general manager Andrés Lyon offered details on the agreement achieved with Mitsui. (Photo: Stock File/FIS)
Multiexport provides details on investment agreement with Mitsui
(CHILE, 10/8/2015)
In response to a request from the Superintendency of Securities and Insurance (SVS), Multiexport Foods offered this entity more details about the operation that will allow the Japanese company Mitsui & Co. to subscribe and pay a capital increase of USD 100.7 million in its subsidiary Salmones Multiexport SA (Salmex).
Through a brief, Multiexport Foods general manager Andrés Lyon Labbé explained that "after carrying out the capital increase, it is estimated that the book value per share would be USD 0.0213465, including each of 3,195,712,778 Salmex’s shares, which will be subject to acquisition by Mitsui and will represent approximately 23.1 per cent of Multiexport Foods SA total projected assets."
He also explained that the goals of accumulated EBITDA (earnings before interest, taxes depreciation and amortization) that Salmex will have to fulfill during the period from 2016 to 2018 for the subscription value of all the payment shares to increase " vary in a range from the minimum of USD 148.1 million and the maximum of USD 234.1 million, with which the highest value of USD 24.4 million would be achieved".
"Any EBITDA within that range will proportionally adjust the largest resulting value," he added.
Related article:
- Mitsui to invest USD 100.7m in stake of Multiexport's subsidiary
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