AquaChile and Benchmark Genetics Limited’s Acquisition of 49% Interest Salmones Chaicas S.A.

CMS Carey & Allende, Travers Smith and Silva Ibáñez advised on the deal

Benchmark and AquaChile, the world’s 6th largest salmon producer, signed an agreement to form a breeding and genetics joint venture.

The joint venture, which will be named Benchmark Genetics Chile, will produce eggs in the Chaicas high-quality biosecure land-based facilities in Chile, with back-up from Benchmark Genetic’s land-based breeding operations in Iceland and genetic technology from Benchmark’s Akvaforsk Genetics in Norway. Benchmark Genetics Chile is expected to supply AquaChile’s entire Atlantic salmon egg requirement and other customers. The company will also market Coho Salmon and Rainbow Trout eggs adapted for Chilean conditions.

The new Company will combine leading-edge technology in salmon genetics and genomics from Benchmark and AquaChile to drive progress in the future on many of the key traits to the Chilean Industry, including resistance to diseases such as SRS and sea lice.

CMS Carey & Allende advised AquaChile with Fernando de Cárcer (Picture) Jorge Allende D., Tomás Polette and Francisco Montes.

Travers Smith advised Benchmark Genetics Limited and Benchmark Genetics Chile SpA. with Anthony Foster and James Lumsden.

In Chile, Silva Ibáñez Abogados advised Benchmark Genetics Limited and Benchmark Genetics Chile SpA. with Luis Fernando Silva, Gonzalo Gutiérrez, Alfredo Montes and Guillermo Bobenrieth.

Involved fees earner: Fernando De Cárcer – CMS Carey & Allende; Jorge Allende D. – CMS Carey & Allende; Tomás Polette – CMS Carey & Allende; Francisco Montes – CMS Carey & Allende; Anthony Foster – Travers Smith; James Lumsden – Travers Smith;

Law Firms: CMS Carey & Allende; Travers Smith;

Clients: AquaChile S.A.; Benchmark Genetics Limited;