March 5, 2014

 

Australis Seafoods sells Landcatch Chile to AquaGen
 

 

Australis Seafoods confirmed the sale of the assets of its salmon egg and genetic production firm Landcatch Chile SA to Norwegian firm AquaGen, with the final sale price reaching US$11.4 million and net worth of US$10.2 million.

 

The payment shall be made within a period of seven years, with an initial amount of US$3.7 million when the contract is signed. Further US$2.8 million will be paid through the renewal of a lease contract with the option to purchase the fish farm Ignao, located in Huacamalal in Region XIV.

 

The purchase agreement includes a building, water use rights, machinery, personal property and rights, authorisations and permissions associated with that fish farm by Landcatch Chile to AquaGen.

 

Australis Seafoods chief executive officer, Ricardo Misraji, explained that another payment will be performed amounting to US$2.1 million in December 2014 and the equivalent remaining amount of US$2.8 million will be paid in six equal annual instalments from the year 2015.

 

The transfer of the lease contract of the fish farm Sensen, located in the commune of Melipeuco in Region IX was also included in the agreement.

 

This assignment comprises a building, water use rights, machinery, personal property and rights, authorisations and permissions associated with it by Landcatch Chile to the Norwegian company.

 

Australis Seafoods also confirmed a long-term contract for the supply of eggs by Aqua Gen to Landcatch Chile.

 

This article is made possible through the contribution of www.fis.com.