Marine Harvest Chile and AquaChile terminate merger
The proposed merger between Marine Harvest Chile and AquaChile has been called off because the conditions of the deal could not be met.
The deal, which was announced in January, was subject to a number of conditions including, among other things, execution of definitive transaction documentations, due diligence and approvals from relevant competition authorities.
A statement released by the Norway-based Marine Harvest Group (MHG) said the parties have unfortunately not been able to reach a joint final agreement and the Conditional Transaction Agreement has been terminated by mutual consent.
“MHG still believes in Chile as one of the global centers for salmon farming going forward. Accordingly, MHG will continue to develop its current farming assets in Chile through its wholly-owned subsidiary MH Chile. MHG still believes that consolidation in Chile is a prerequisite for establishing a profitable and sustainable industry in the region,” said the statement.