Sunday , April 18 2021

FNE approves AquaChile sales to Agrosuper and opens the way for the second largest salmon farm in the world | Economics

The State Economic Prosecutor's Office (FNE) said on Wednesday that on December 7, Agrosuper accepted AquaChile's stock purchase.

During the investigation, the FNE analyzed various reliable hypotheses in the relevant market, concluding it the operation can not significantly reduce competitionas it does not exceed the concentration limits set out in the Handbook for Analyzing Horizontal Concentrations in the Wholesale Market.

That way The operation was finally approved unconditionally, issued by the Chilean and United States authorities, which allows Agrosuper to make a public purchase (OPA) for 100% AquaChile stock and intensify itself as the second largest salmon producer in the world, just after the collection of the Norwegian Sea.

According to a statement, Agrosuper explained that the agreement last August provided for the purchase of 67% of the company's share through a takeover bid to buy up to 100% of shares the operation could reach $ 850 million.

At the same time, according to FNE investigations, the operators are actively involved in breeding, harvesting, processing, and retail segments of the Atlantic salmon shrimp salmon family.

As for the retail market, it was found that AquaChile is distributing its products in specialized stores, and Agrosuper, on the other hand, supplies a supermarket channel.

The prosecutor's office ruled out the risk of competition in this segment because there is no proximity between these two channels due to the various purchasing opportunities of the retail channel and the low installation costs of the specialist store.

In this regard, it should be noted that the majority of the participants investigated by the investigation they did not respect the potential anti-competitive effects derived from the operation.

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