MercoPress. South Atlantic News Agency

Norwegian company buys Acuinova Chile with 40.000 tons production capacity

Asset purchase includes a hatchery, a smolt facility, 36 sea water licenses and a primary and secondary processing facility, all located in Chile's Region XI.

Norwegian giant salmon-faming company Marine Harvest has announced an agreement to purchase assets of the former Chilean farming company Acuinova Chile SA, currently in bankruptcy, for 120 million dollars.

The assets represent a production capacity of 40,000 tons HOG per year and the biomass included in the deal is expected to generate a harvest volume of about 15,000 tons HOG in 2015.

The asset purchase includes a hatchery, a smolt facility, 36 sea water licenses and a primary and secondary processing facility, all located in Chile's Region XI.

The transaction is expected to be finalized during Q4 2014 and the deal is subject to confirmatory due diligence and approval from relevant competition authorities as well as other customary approvals for such transactions.

During recent years, Marine Harvest Chile has left its comprehensive portfolio of assets in Region XI dormant and focused all production in Region X. The acquired assets provide Marine Harvest with the necessary comfort on zone control and on-shore infrastructure to commence sustainable production in the region.

Marine Harvest views the deal as an important step in forming a lasting sustainable production framework in the Chilean farming industry. (FIS).-