Salmones Friosur acquires Pacific Seafood
The local salmon producing company Salmones Friosur S.A., controlled by the Chilean family del Río, bought the water rights and 20 aquaculture licenses belonging to Pacific Seafood S.A., owned by the Norwegian company Lerøy Seafood Group ASA (LSG).
As reported by LSG to the Oslo Stock Exchange, these water rights and concessions were acquired by the company in the spring of 2007 as part of the purchase of the company -also Norwegian, Veststar Holding AS.
The purchase of Pacific Seafood had a value of around $ 9.5 million, however, after deduction of estimated taxes, LSG expects to obtain total profits from this operation slightly below US$ 8 million.
According to a source close to the deal, the assets involved in this transaction consist of water rights and permits for the construction of freshwater sites and 20 aquaculture licenses for sea farms. However, Salmones Friosur have no intentions yet to build any freshwater site from these water rights.
Regarding the 20 aquaculture licenses, 17 of them are located in the Region of Aysén and the remaining three in the Region of Los Lagos. Salmones Friosur was already operating four of these licenses through a lease.
This acquisition was preceded by the purchase of Pesquera Landes in September last year, when Salmones Friosur paid an amount close to US$ 36 million. You can read this story in the following link.
