Tethys Ocean offers to buy up Dias Aquaculture


SeafoodSource staff

Published on
March 20, 2012

Tethys Ocean B.V., the aquaculture arm of Netherlands-based Linnaeus Capital Partners B.V., has made a takeover offer to buy out all remaining shares in Dias Aquaculture S.A., one of Greece’s largest sea bass and sea bream producers.

The announcement — made on Wednesday Dias Aquaculture — comes just two weeks after Tethys Ocean took a controlling stake in Dias Aquaculture by purchasing shares from Stelios Pitakas, the company’s executive chairman, and other shareholders. Tethys Ocean now owns 16.9 million shares representing 55.9 percent of the company’s share capital and voting rights.


Tethys Ocean is now offering EUR 1.10 per share for the remaining 13.3 million shares, which amounts to EUR 14.63 million.

Tethys Ocean is already strategically aligned with two of the Mediterranean’s largest aquaculture companies — Nireus Aquacultures and Selonda SA.

Axia Venture Group Ltd. is acting as Tethys Ocean’s advisor.

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