Agrosuper S.A. has settled the takeover of Empresas AquaChile S.A. thus becoming the largest salmon company in Chile and one of the largest in the world.
In total, the firm controlled by Gonzalo Vial Vial, acquired during the process 1,153,643,052 shares, as reported by both companies through essential facts.
The company disclosed the result corresponding to its offer to buy 100 percent of the subscribed and paid shares issued by Empresas Aquachile, declaring the offer successful, according to its terms and conditions.
In an essential event issued to the Commission for the Financial Market (CMF), the general manager of Agrosuper, José Guzmán Vial, said that the company has acquired 1,111,643,052 subscribed and paid shares issued by Aquachile, representing 99.71 percent of the total of shares issued with the right to vote in the mentioned company, acquiring its control accordingly.
Agrosuper will control 23 percent of Chilean salmon production and 7.2 percent globally.
It should be recalled that the National Economic Prosecutor's Office (FNE) approved the concentration operation on December 7, consisting of the acquisition of AquaChile shares by Agrosuper.
During its investigation, the FNE analyzed the different plausible hypotheses of relevant market, and concluded that the operation is not apt to substantially reduce the competition, since it does not exceed the concentration thresholds established in the Guide for the Analysis of Horizontal Concentration Operations for the wholesale market.
The Office of the Prosecutor ruled out risks to competition in this segment, due to the lack of competitive closeness between these two channels, due to the existence of various supply possibilities for the retail channel and the low installation costs of a specialty store.
From Agrosuper, it was explained that this acquisition will allow them to generate environmental, health and commercial synergies, and reinforces its vocation "to produce food of the highest quality and freshness for customers and consumers in the most demanding markets of the world, hand in hand with a production responsible with the environment and close to neighboring communities. "
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