Salmon processing plant belonging to Friosur. (Photo: Friosur)
AquaChile presents offer to buy Friosur
(CHILE, 4/18/2018)
AquaChile has submitted an offer to acquire the salmon farming division of the company Friosur, controlled by José Luis Del Río Goudie and his brothers Bárbara and Sebastián.
The purchase proposal would exceed USD 200 million, but to date there is still no response from Friosur. Del Rio siblings - who run the company through the investment holding Inder -- seek to focus on their capture fishing activity, which is why they hired LarrainVial months ago to find the best price for their salmon farming subsidiary, Diario Financiero reported.
Ten years ago, AquaChile tried to buy the salmon business from Friosur, but without success. In 2013, the companies signed a marketing agreement for the sale of their products in the United States and Canada.
However, AquaChile would not run alone this time: Australis would also have submitted an offer, according to sources close to the process.
So far, Del Rio siblings, along with their investment bank advisors, are analyzing the offers, so they have not yet made any decision. There are no deadlines, according to experts, but the sale of the business could take place in the short or medium term.
At present, the salmon farming area of Friosur produces around 20,000 tonnes of salmon annually, has more than 40 concessions in the Aysén area and records sales of around USD 100 million per year. The company has approved a project for the development of a new productive plant that would cost about USD 20 million.
If the sale is performed, this branch of Del Rio siblings would focus on its other businesses, such as the capture of southern hake. But they also have a stake in other companies, such as the modular construction firm Tecno Fast, Grupo Alto and Anpac, which participates in the renewable energy sector.
Source: Diario Financiero
Related article:
- Friosur considers sale of its salmon division
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