|
The new company will develop their fishing activities between regions III and X, and will have several plants. (Photo: Pesquera San José/FIS)
Fishing companies to merge
CHILE
Thursday, July 22, 2010, 02:50 (GMT + 9)
Coloso and Igemar aim with this strategy to better face a more restrictive scenario in terms of catches.
Pesquera Coloso have 40 per cent of the shares of the new company and Igemar have 60 per cent Igemar, Diario Financiero reports.
SPK should undertake a capital increase of USD 75.7 million, being a smaller company than San Jose.
It is anticipated that the merger should take place by 30 November 2010, after fulfilling the conditions laid down in the agreement.
"The merger agreement provides for an option on Coloso by 10 per cent or 20 per cent of the shares of the merged company that may be exercised in 2013 or 2016," said the general manager of Pesquera Coloso, Domingo Jimenez.
The new company will develop their fishing activities between regions III and X, and will have plants in regions VI, VIII and Los Lagos.
Pesquera San Jose and SPK specialise in the production of fishmeal and fish oil, but are also pushing the development of canned and frozen products.
"With the merger agreement of the companies, culminates an intense process of analysis of the strengths and capabilities that the new company will have to face the complex and demanding current and future scenario of the fishing industry, especially in the Bío Bío Region," the two companies said in a statement.
This business union "represents the best alternative to contribute to the revival of the sector in the region" and "secure the foundations of sustainable development of this activity into the future," they added.
|
Print
