AquaChile chairman: “Investing in Magallanes is a long-term strategic plan before Oslo listing”

AquaChile gearing up for Oslo Stock Exchange debut.

Just before the weekend it was known that AquaChile had struck a $255m deal to purchase Salmones Magallanes and Pesquera Edén. The acquisitions enables the company to establish itself in the Magallanes region, and increasing the growth potential with 40%.

But there is also a long-term strategy behind the acquisitions. According to Victor Hugo Puchi, chairman of AquaChile, the company was recommended to make “specific investments” before listing on Oslo Stock Exchange, writes El Mercurio.

The company will now continue the process raise USD 200 million.

“We still have a plan to be listed in Oslo, and we aim to complete the process during the year. This will allow us to make further investments,” said Puchi.

Puchi also stated that he hoped the trend with acquisitions, merger and business alliances will continue.

“It will enhance that efficiency and competitiveness of Chile’s salmon industry.”