Herman Chadwick, Pesca Chile bankruptcy trustee. (Photo: Stock File

Canadian firm in talks to buy Pescanova salmon assets

CHILE
Friday, December 20, 2013, 01:30 (GMT + 9)

After receiving the bids to acquire salmon assets in Chile that the Galician multinational Pescanova owns, Pesca Chile’s bankruptcy trustee, Herman Chadwick, began talks with the Canada based company Cooke Aquaculture.

At this time, the Canadian company seems to be the leading candidate to acquire Pescanova’s assets in the Chilean salmon industry: Acuinova and Nova Austral.

While these negotiations continue, Marine Harvest owners maintain their interest in buying the assets.

Subsidiaries of the Galician multinational in the country are highly attractive investment because they have a number of concessions to produce in the region of Magallanes, Pulso reported.

Cooke Aquaculture had already made other attempts to expand its production in Chilean territory, through the purchase of a portion of Invertec Pesquera Mar de Chiloe (Invermar).

The Canadian firm had decided to get the 54.07 per cent of the salmon farming company, but negotiations did not progress because of the complex financial situation of the firm linked to Invertec.

Meanwhile, Pescanova managed to stop temporarily Pesca Chile sale, as part of the last committee of creditors.

Its plan is to obtain financing allowing the firm not to sell the Chilean company, and to this end, it has just submitted a bid for EUR 30 million for working capital.

Civil Court No 4 of Santiago declared Pesca Chile bankrupt on 2 May 2013.

Related article:

- Pescanova intensifies efforts to stop Pesca Chile liquidation

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

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