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Salmon processing plant belonging to Friosur. (Photo: Friosur)

Los Fiordos gets green light for the purchase of Salmones Friosur

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Wednesday, October 10, 2018, 23:50 (GMT + 9)

The National Economic Prosecutor's Office (FNE) has given the green light to the purchase of the salmon business of Salmones Friosur SA and its related entities by Exportadora Los Fiordos Ltda., an entity related to Agrosuper business group.

The agency said that according to the investigation that began on July 31, the operation involves the integration of two salmon companies connected to the salmon farming stages (fish farming and fattening) and marketing products, mostly for export.

The FNE analyzed the concentration indices and their variations resulting from the operation, under various market segmentations that were plausible, and concluded that it would not exceed, in any of the cases analyzed, the concentration thresholds established in the Guide for the Analysis of Horizontal Concentration Operations (FNE, October 2012).

It also said that the actors consulted pointed out the possibility of acquiring products from other suppliers in the industry and did not present any well-founded objections regarding possible anticompetitive effects derived from the operation.

Based on this analysis, the FNE came to "the conviction that the operation is not suitable for substantially reducing competition", so it decided to approve it.

"The assets incorporated in this operation, which reaches USD 229 million, will allow us to increase the productive capacity through the operation of a fish farm, 12 sea centres and 40 concessions," said Agrosuper.

Related article:

Los Fiordos agrees on asset purchase of Salmones Friosur for USD 229 million

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