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Two companies interested in acquiring Pescanova assets in Chile

March 28, 2013 - Aquaculture News
Two companies interested in acquiring Pescanova assets in Chile

The assets of the Spanish multinational firm Pescanova in Chile – two aquaculture firms, Acuinova Chile and Nova Austral, and a fishing one, PescaChile – could be taken over by the Canadian firm Cooke Aquaculture or by the Norwegian Marine Harvest.

According to the data published by Diario Financiero, the executives of the two companies involved would have resumed talks to acquire some assets from the Galician company.

Cooke Aquaculture plans to continue entering the Chilean market, where it operates through Salmones Cupquelan, purchased in 2008.

Meanwhile, Marine Harvest maintains its intention to buy assets from Pescanova, which was postponed last year.,Considering what the Canadian company spokeswoman Nell Halse told Undercurrent News, “a deal with Chile could soon be on the table.”

“We’ve always been interested in the growth of our business in Chile and in the expansion of our assets to reflect the North American model of vertical integration,” she pointed out.

Furthermore, PescaChile executives reportedly met with key suppliers to make the acknowledgment of the debt and to negotiate payment plans to pay it.

The company expects to “restructure” its status and prepare itself for a future sale.

Meanwhile, the National Securities Market Commission (CNMV) of Spain decided that Pescanova would be authorised to present its accounts for the second half of 2012 up to April 5, this year.

This term implies an extension of the provisions of the first communication, which specified March 23, as the deadline for the multinational firm to make its latest financial statements public, after recognising a gap between the debt that was audited and the real figures.

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