Andromeda farmed fish. (Photo: Andromeda Group)

UAE fund, Amerra and Andromeda Group to acquire two Greek aquaculture firms

GREECE
Thursday, June 21, 2018, 23:40 (GMT + 9)

Investment fund Mubadala Investment Company, from Abu Dhabi, together with AMERRA Capital Management LLC (the current owners of Andromeda Group) will participate as shareholders in the acquisition of majority stakes in two European sea bass and sea bream farming companies: Nireus SA and Selonda SA.

The transaction, which is subject to merger control approvals and other customary conditions, has the aim of creating a global leading aquaculture firm.

“With our focus on aquaculture and agriculture investments, we are excited by the synergies that can be created between these companies. We believe that significant value can be created by building on the comparative advantages of the Mediterranean aquaculture sector,” pointed out Thor Talseth, Managing Director of AMERRA Capital Management LLC and Andromeda Group Chairman.

For his part, Elham Al Qasim, Agribusiness Director at Mubadala Investment Company, commented that aquaculture is one of the most promising sub-sectors, where the deployment of new technologies can drive productivity improvements and accelerate growth.

Dimitris Valachis, Group CEO of Andromeda Group highlighted their intention to join forces and share knowledge, expertise and human resources to create a global aquaculture company that will boost the growth of the Greek fish farming industry.”

 
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