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CaixaBank. (Photo: Jordiferrer CC BY-SA 3.0)

CaixaBank sells fish farm to Canadian company

  (SPAIN, 9/26/2013)

CaixaBank has decided to dispose of the fish farm Acuigroup Maremar located in Valencia, of which it owned 99.9 per cent stake after acquiring Banco de Valencia.

The company, which is now undergoing a creditors’ meeting phase, was sold to the Canadian company Cooke Aquaculture.

Acuigroup Maremar is dedicated to breeding bream and sea bass, and is located in Puerto de Sagunt.

At present, this company is going through a difficult financial situation due to lack of liquidity.

For the Catalan group, this sales agreement guarantees the continuity of the company in Valencia, founded by the former minister Antonio Asuncion and Tarsilo Piles, reported Levante. Besides, it is "a strong alternative to offer viability to the fish farm and satisfaction to its creditors."

The Canadian company Cooke Aquaculture is also engaged in aquaculture business in the United States and in Chile, and it has operated in Spain for two years.

In 2011, Cooke bought Culmárex, a business from Murcia engaged in bream and sea bass farming.

"It is a leading firm in the industry with extensive experience, multinational presence and expertise in the Spanish market, so it can provide valuable background to the new stage of the Valencian company," said CaixaBank in reference to the Canadian firm.

In this financial group’s viewpoint, the sale agreement can protect "the future of the aquaculture sector in the Valencian Community."

According to the available data, Acuigroup’s financial crisis resulted in a material loss of EUR 16.4 million on the balance sheet of the company, which closed the year 2011 with losses for about EUR 6.021 million.

By Analia Murias
[email protected]
www.fis.com

 


Information of the company:
Country: Spain
Phone: +34 962 699 200
Fax: +34 962 699 201
E-Mail: [email protected]
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