Feed bags for fish belonging to Ewos. (Photo: Ewos)
CHILE
Friday, August 15, 2014, 23:00 (GMT + 9)
The salmon firm Nova Austral, which forms part of the PescaChile subsidiary of the Galician multinational firm Pescanova, is owned by the Norwegian firm Ewos.
The sale was settled with the payment of EUR 7.4 million, having been authorized by the insolvency administrator and creditor banks -- BCI, Banco do Brasil and DNB.
Several sources related to the operation that were consulted by the Galician newspaper La Voz de Galicia said the Norwegian firm presented an offer for Nova Austral worth EUR 134.6 million, equivalent to the value of assets. The accrued liabilities amounting to around EUR 128 million, was deducted from that amount.
The plant is expected to produce about 15,000 tonnes of salmon annually.
Later, the sale of the firm Acuinova, another subsidiary of PescaChile engaged in salmon farming, is expected. This sale would have to take place before the end of September.
In May last year, Chilean assets failed to compute in Pescanova’s balance, just a month after the multinational firm filed for creditors’ meeting.
In recent months, the multinational was trying to prevent the Chilean receivers from selling their most prized subsidiary.
Currently, PescaChile owes EUR 89 million with major creditors: Banco de Credito e Inversiones (BCI), DNB, Itaú, Banco do Brasil and HSBC.
Nova Austral has about 28 concessions for salmon farming, all in the region of Magallanes. This aspect is considered very important because it is "isolated" from the rest of the Chilean salmon industry and also this area has special incentives.