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With the purchase of AquaChile, Agrosuper will become one of the largest salmon producers worldwide.
National Economic Prosecutor approves purchase of AquaChile by Agrosuper
(CHILE, 12/13/2018)
The National Economic Prosecutor's Office (FNE) has approved the concentration operation consisting of the acquisition of the shares of Empresas AquaChile SA (AquaChile) by Agrosuper SA.
During its investigation, the FNE analyzed the different plausible relevant market hypotheses, and concluded that the operation is not capable of substantially reducing competition, since it does not exceed the concentration thresholds established in the Guide for the Analysis of Horizontal Concentration Operations for the wholesale market.
According to the investigation, the parties to the operation are active in the segments of farming, harvesting, processing, and wholesale and retail distribution of Atlantic and Pacific salmon spices.
With regard to the retail market, it was observed that AquaChile distributes its products through specialty stores and that Agrosuper, on the other hand, supplies the supermarket channel.
Product from Aquachile
The Office of the Prosecutor ruled out risks to competition in this segment due to the lack of competitive proximity between these two channels, given the existence of various possibilities for procurement of the retail channel and the low installation costs of a specialty store.
To the above, what is added is the fact that the great majority of the actors consulted during the investigation had not noticed the existence of possible
anticompetitive effects derived from the operation.
The agreement between the two companies, reached last August, contemplates the purchase of 67 per cent of salmon company Empresas AquaChile from its majority shareholders. The transaction, which considers a price that amounts to USD 850 million, would be materialized through an Initial Public Offering (IPO) for the acquisition of 100 per cent of the shares of the company.
The resolution of the FNE and the approval report will be published on its website once the public version of these documents has been prepared.
Related article:
- Agrosuper will launch OPA to take full control of AquaChile
editorial@seafood.media
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Information of the company:
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Address:
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Camino la Estrella N°401, of. 7, Sector Punta de Cortes
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City:
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Rancagua
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Country:
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Chile
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Phone:
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+56 72 201 000
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Fax:
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+56 72 201 000
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E-Mail:
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info@agrosuper.com
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