Dias, Selonda merger ‘terminated’

The merger between Athens-based Selonda Aquaculture and Dias Aquaculture, announced last April, has been terminated, according to a statement on Dias’ website.

Under the terms of the deal, Dias was to absorb Selonda and the new company was to be named Selonda Aquaculture and employ about 1,500 people as one of the world’s largest sea bass and sea bream producers.

“Dias Aquaculture SA informs the investing public that the memorandum of understanding dated as of 3 April 2013 and signed between the company and Selonda Aquaculture SA regarding the merger of the above mentioned companies through the absorption of Selonda by the company…since 21 January 2014 has been terminated,” the statement reads.

Dias said it will inform the investors for any further developments on the issue.