PERU fishing with guts to report…
FIS.com reported on the proposal of the group controlled by Alimar (Left Menéndez) to take full control of the salmon Invermar (Flamilia Montanari) through a tender offer. This operation, if carried out, will involve an investment of USD 21 million and liabilities of the acquiree decrease of $ 155 million to about $ 70 million after removed from creditor banks.
Alimar already has secured 54.07% which corresponds to the Montanari family-which has confirmed the operation- and expects easily reach 66.6% of Invermar, but gradually try to add more participation.
The general situation of Alimar group is appropriate to carry out these plans, since in 2014 he earned a net profit of nearly $ 97 million, well over USD 21.5 million reported in 2013. Cash on hand exceeds USD 35 million and its debt is very low at only 0.1%, according to the prospectus delivered to the Superintendency of Securities and Insurance.
The OPA, which is led by Banchile Investment Group, is valid for 30 days, until March 19, but could be extended if any of the conditions required to complete the purchase was not complied term.
Also the idea is to cancel the registration of Invermar in the Register of the SVS or, failing that, the sale / transfer of a majority of its assets to a closed society. All this implies a profound restructuring of Invermar at both staff and suppliers with the intent to renegotiate debts and conditions.
SOURCE: FIS.COM
