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By merging, Pesquera Bío Bío and Camanchaca hold 19.3 per cent of the catch quota for horse mackerel in regions V and X. (Photo: Stock File/FIS)
Investigation launched into merger between Camanchaca and Pesquera Bio Bio
(CHILE, 2/11/2011)
The National Economic Inspectorate (FNE) has initiated an investigation into the merger between Camanchaca S.A. and Pesquera Bío Bío S.A., due to a high market share existing in some of the relevant sectors that were analyzed, which would be affected by the operation.
"The market share indices and their variations exceed the thresholds established by the International Guide for the Analysis of Horizontal Mergers, specifically in the markets of individual fishing quotas for mackerel species (at a national level), anchovy (in the regions of Los Ríos and Los Lagos) and common sardine (nationwide)," states the FNE.
"Ultimately, the Inspectorate must assess potential risks to competition exposed by preliminarily anylsis which could negatively affect consumers," added the FNE, according to newspaper El Mercurio.
Camanchaca and Pesquera Bío Bío decided to merge industrial and artesanal pelagic fishing operations in the south central area of the country, including shrimp.
Executives from both companies stated that the merger began operating on 1 February, and that the merger should be completed by October.
The companies also agreed to transfer fleets, processing and freezing plants, landing areas and the workforce to the new company.
The merger agreement will result in the new company ranking second with regards to the largest horse mackerel catch quota in regions V and X.
Together, both companies catch 41,096 tonnes of horse mackerel, which is 19.3 per cent of the share of these regions, reports Diario Financiero.
Related article:
- Camanchaca and Bío Bío merge operations
By Analia Murias
editorial@seafood.media
www.seafood.media
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