August 11, 2011

Chile's Agrosuper eyes expansion

Shareholders of Chile's major white meat and fresh foods producer, Agrosuper, approved a capital raise and an initial public offering for a 15% stake to boost its development plans.

The processor had been working on an initial public offering as large as US$900 million, but the company has since registered a shelf offering to issue up to US$400 million in bonds.

"The capital increase is a way to realise our projects and will allow us to deepen the export plan we have been following," Agrosuper said.

The firm plans to invest US$350 million this year and wants to export its poultry, turkey, pork, salmon and processed products to over 60 countries.