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Salmofood products for fish farming. (Photo: Alicorp)
Invermar performs Salmofood sale
CHILE
Thursday, September 06, 2012, 23:20 (GMT + 9)
Invertec Pesquera Mar de Chiloé (Invermar) reported Superintendencia de Valores y Seguros (SVS) that the sale of its stake in Salmofood SA was settled in favour of Alicorp Holdco in Spain, Peruvian subsidiary of Alicorp.
The performance of the operation will have "extraordinary financial profits estimated at about USD 9.5 million" for the salmon firm.
Invermar indicated that out of the USD 31 million obtained as a result of the transaction, USD 3.75 million will be pledged as guarantee in the following way:
- USD 500,000 to ensure the compliance with certain price adjustments provided for in the trading contract;
- USD 3,250,000 to secure the payment of any contingencies that may affect the issuers of the shares subject to such contract.
According to the communication released by the company to SVS, such payment will be made for "a period of up to four years from this date," Estrategia reported.
Invermar explained that the balance of the price received -- USD 13,875,000 -- "will be used to finance the operations of the firm."
Invermar, along with the unrelated companies Pesquera Yadrán and Inmobiliaria, Asesorías y Desarrollos Degan, on 27 July signed a stock purchase agreement by which they agreed to sell 100 per cent of the shares issued by Salmofood of its property to Alicorp Holdco España SL.
The 50 per cent of the total amount of the transaction, which amounted to USD 62 million, was for Invermar and the rest to the sellers, in proportion to its shares in Salmofood.
This transaction marked the entry of a firm from Peru into the Chilean salmon industry, as it has recently been indicated by rumors in the fishing business sector in the region.
Related article:
- Alicorp purchases Salmonfood for USD 62 million
By Analia Murias
[email protected]
www.seafood.media
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