Pesquera Diamante fishmeal sacks. (Photo: Pesquera Diamante)

More fishing firms sales and purchases expected

PERU
Monday, January 20, 2014, 01:50 (GMT + 9)

After completing the purchase of Copeinca in 2013, China Fishery Group evaluates acquiring other fishing firms in Peru, such as Hayduk and Pesquera Diamante S.A., which have a significant quota in the domestic market.

Hayduk went through a restructuring process that involved the departure of nearly all its management staff.

Now it was learned that the Asian company CEO, Jose Miguel Tirado, had several meetings with Walter Martinez, Hayduk chairperson, reported El Comercio.

For Diamante, it was known that Enfoca fund, which owns 18 per cent of the company, intends to dispose of its stake in the business.

One industry analyst commented: "The problem is that stakeholders want to buy the whole company and not just the 18 per cent. That is why there would be an interest in moving the subject, so the Ribaudos, owners of the other 80 per cent of the company, are motivated to sell."

Even, there is speculation that the Ribaudo family would be tempted by a Chinese investment fund. However, there are rumors that they are not interested in selling, because the offers are not attractive.

A year ago, consultant Pedro Trillo warned that Peru would lose the opportunity to position itself in an important sector of the global food business if it let fish companies be acquired by foreign multinationals.

According to Trillo, these movements represent a disadvantage for the Peruvian economy.

Furthermore, Austral Group announced the sale of 100 per cent of Conservera de las Americas shares to Tri Marine International, a transaction valued at USD 10 million.

"Austral's strategy to concentrate their operations more towards the center of the country has given us a welcome opportunity to again participate in an important way in the Peruvian fisheries industry,” said Renato Curto, CEO of Tri Marine.

"The Paita plant will be dedicated to the production of high quality products destined to our preferred customers in the countries where we currently operate, as well as in the domestic market in Peru," he added.

Related articles:

- Tri Marine acquires processing plant from Austral
- Copeinca achieves preliminary agreement to sell its shares to Chinese group

By Analia Murias
[email protected]
www.seafood.media

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