AquaChile’s $225 Million Acqusition of Salmones Magallanes and Pesquera Edén

CMS Carey & Allende and Barros & Errázuriz advised on the deal

AquaChile has signed an agreement to acquire the entire business of Salmones Magallanes and Pesquera Eden in their current salmon farming operation in both freshwater and seawater for $225 Million.

Salmones Magallanes and Pesquera Eden have 26 sea concessions located in the Magallanes region, a recirculation fish farm with ample capacity and a processing plant in Puerto Natales, which allows them to concentrate all their operations in the region. In 2017, the two companies produced 22,900 tonnes of Atlantic salmon and have the potential to produce 40,000 tonnes in the medium term.

The purchase will be financed through a combination of currently available resources, debt and funds from the capital increase recently approved by the shareholders meeting of Empresas AquaChile S.A.

CMS Carey & Allende advised Empresas AquaChile SA with Jorge Allende (Picture) and Fernando De Cárcer.

Barros & Errázuriz advised Inversiones El Convento Limitada, Inversiones Los Castaños SpA, Inversiones Access SpA, Inversiones Costanera Limitada, lnasa Uno S.A., lnasa Dos S.A., lnasa Cuatro S.A., lnasa Cinco S.A. and Administradora GP S.A. with a team including José Tomás Errázuriz, Emillio Vásquez, Vicente Cordero and Eduardo Anguita.

Involved fees earner: Jorge Allende Z. – CMS Carey & Allende; Fernando De Cárcer – CMS Carey & Allende; José Tomás Errázuriz – Barros & Errázuriz Abogados; Emillio Vásquez – Barros & Errázuriz Abogados; Vicente Cordero Becker – Barros & Errázuriz Abogados; Eduardo Anguita – Barros & Errázuriz Abogados;

Law Firms: CMS Carey & Allende; Barros & Errázuriz Abogados;

Clients: AquaChile S.A.; Inversiones El Convento Limitada; Inversiones Los Castaños SpA; Inversiones Access SpA; Inversiones Costanera Limitada; lnasa Uno S.A.; lnasa Dos S.A.; Inasa Cuatro S.A.; lnasa Cinco S.A.; Administradora GP S.A.;

Author: Ambrogio Visconti.