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Alimar fishmeal. (Photo: Alimar)
Alimar purchases almost 80pc of Invermar´s shares
(CHILE, 4/1/2015)
The company Alimentos Marinos (ALIMAR) acquired 79.86 per cent of the shares of the company Invertec Pesquera Mar de Chiloé (INVERMAR) through the Public Offer which it had launched in mid-February.
After the management change, ALIMAR granted INVERMAR a loan of USD 70 million a year.
Meanwhile, INVERMAR paid USD 62.4 million in advance to creditor banks, who decided to cancel the remaining balance of the debt for the total amount.
ALIMAR ended up acquiring 230.6 million shares issued by INVERMAR.
As it was reported by Pulso, BancoEstado agreed to reschedule the loan that the firm has with such financial institution for an amount of about USD 2.3 million, liabilities to be paid within 10 years.
An authority of the Dutch bank Rabobank, one of the major creditors of INVERMAR- assured that the 55 per cent reduction in liabilities represents "a strong impact."
According to Erik Heyl, general manager of the bank in Chile, the entity will have to accept that reduction in order to finalize the sale of the salmon firm to ALIMAR.
Shortly after the news of the purchase was released, INVERMAR’s shares settled with a 5.81 per cent increase, being the second most profitable on the Santiago Stock Exchange (BCS) during the trading day on Monday.
Landmark Capital advised Montanari family, which owns INVERMAR, on the sale of its shareholding and on the restructure of the debt and the incorporation of a strategic partner, reported Economia y Negocios.
Related articles:
- Rabobank warns reduction from Invermar is 'a major impact'
- Alimar to launch a PSO to buy Invermar
By Analia Murias
editorial@seafood.media
www.seafood.media
Information of the company:
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City:
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Providencia
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State/ZIP:
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Santiago ( )
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Country:
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Chile
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Phone:
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+56 2 225 6190
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Fax:
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+56 2 225 6190
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E-Mail:
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pweber@alimar.cl
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