No deal for Marine Harvest and Aquachile
MARINE Harvest’s bid to merge with Aquachile, which would have created the largest salmon farming company in Chile, has been terminated.
The potential merger was subject to a number of conditions including, among other things, execution of definitive transaction documentations, due diligence and approvals from relevant competition authorities.
The parties have not been able to reach a joint final agreement and the Conditional Transaction Agreement has been terminated by mutual consent.
Marine Harvest said it still believes in Chile as one of the global centres for salmon farming and it will continue to develop its current assets in the country through its wholly owned subsidiary MH Chile.
It still believes that consolidation in Chile is a prerequisite for establishing a profitable and sustainable industry in the region.