August 1, 2012
Invertec Pesquera Mar de Chiloé (Invermar) and two unrelated companies sold Salmofood SA to the Peruvian firm Alicorp for US$62 million.
"Invermar, coupled with the unrelated companies Pesquera Yadrán and Inmobiliaria, AsesorÃas y Desarrollos Degán, have signed a share contract sale for which they have agreed to sell 100% of the shares issued by Salmofood, which belongs to the company, to Alicorp Holdco España SL, a subsidiary of the Peruvian company Alicorp," reads the document sent to Superintendencia de Valores y Seguros (SVS).
The 50% of the total transaction amount corresponds to Invermar and the remaining amount to the vendors, in proportion to their shares in Salmofood.
"The payment of the price and the transfer of the shares shall be made on the operation settlement date," which is subject to the approval by Invermar's creditor banks, Estrategia reported.
The operation settlement will mean an extraordinary profit for Invermar, which is estimated at about US$9.5 million. The purchase of 100% of Salmofood shares is the 10th acquisition Alicorp has performed in recent years, and the first one taking place in Chile. With this operation, the Peruvian company has invested more than US$227 million in procurement, according to Diario de Fusiones y Adquisiciones.
Salmofood is dedicated to the production and marketing of fish feed and is headquartered in the city of Castro, on Chiloé Island (Region of Los Lagos). In 2011, the firm had a 6.6% stake in the Chilean market for fish feed.
Alicorp is one of the largest industrial companies in Peru, and has subsidiaries in Argentina, Colombia, Ecuador and Honduras. Between January-March 2012 the firm sold products for US$368 million.
