PERU fishing with guts to report…
AquaChile just entered as a new driver Invertec Pesquera Mar de Chile (Invermar), following the signing of an agreement between the company and the core shareholder Investment Technology Limited and AquaChile Invermar- driver.
After Invermar informed the Superintendency of Securities and Insurance (SVS) on this agreement, the shares soared yesterday Invermar more than 25% on the Santiago Stock Exchange, Diario Financiero reported.
As detailed Invermar through a material fact, it was agreed to propose to the creditor banks “the terms of the capitalization of part of the financial liability Invermar down the road that is relevant, allowing AquaChile purchase of existing creditors Invermar a controlling interest in that company; rescheduling of the balance of this liability that has not been capitalized; and the completion of a capital increase in the amount of Invermar USD 30 million. That money will be paid by AquaChile, subject to the preferential subscription rights are exercised.”
In the document sent to the SVS also detailed that this agreement is subject to fulfillment of the conditions from which include “conducting due diligence to the satisfaction of AquaChile”, la firma de un pacto con los bancos acreedores de ambas compañías y la realización de las juntas de accionistas de Invermar, “that allow the realization of the transaction, subject to the authorizations and agreements necessary to realize the forecasted transactions”.
The parties set a deadline of November 30, 2014 to agree the terms of the contract and other documents required to complete this venture.
Between January and June 2014 recorded consolidated AquaChile USD 397.5 million, an amount that represents an increase of 16% over the same period in 2013 (USD 344.5 million) sales.
The company attributed the growth mainly to increased sales value of Atlantic salmon and trout, which recorded annual increases of $ 31 million and US $ 9 million, respectively.
In volume terms, crops Salmon and Trout this semester reached 53,000 tons and tilapia harvests totaled 10,000 tons.
SOURCE: Fis.com
