Nova Austral salmon farm. (Photo: Sitecna)

Ewos is about to settle Nova Austral purchase

CHILE
Thursday, August 07, 2014, 01:40 (GMT + 9)

In a short time, the sale of the salmon firm Nova Austral to the Norwegian company Ewos would take place for an amount close to USD 180 million, as the Chilean press has reported.

The proceeds from this transaction will be used mostly to finance the debt incurred by the company, which is a subsidiary of Acuinova. Both companies are controlled by PescaChile, which in turn is a subsidiary of the Galician multinational firm Pescanova.

Ewos will have to assume the rescue of the salmon firm with the injection of new capital.

It is expected that during the next few days the share sale-purchase contract between Acuinova and the supplier of salmon feed in Norway is signed. 

According to an industry source, the operation is almost ready and only a few minor issues remain, the newspaper El Mercurio reported.

Nova Austral has about 28 concessions for salmon farming, all in the region of Magallanes. This aspect is considered very important because it is "isolated" from the rest of the Chilean salmon industry and this area has special incentives.

Now what has to be defined is the sale of Acuinova, which concentrates its operations in Region XI and this year plans to produce about 19,000 tonnes of salmon, 32 per cent less than in 2013.

Related articles:

- Acuinova intends to sell Nova Austral
- Ewos to buy salmon firm Nova Austral

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

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