Legend Holdings Corporation is a Chinese investment holding company with interests in finance, real estate, and information technology
Chinese group raises offer for Australis Seafoods to USD 921 million
Friday, June 14, 2019, 23:40 (GMT + 9)
One of the largest mergers and acquisitions involving a Chilean company is enterring the final phase. Australis Seafoods informed the market that the terms of the sale contract with the Legend Holdings - which among other investments manages the computer company Lenovo -, have been met, so the Chinese company will publish the OPA notice before July 27.
In an essential fact sent to the Commission for the Financial Market (CMF), the company until now propiety of businessman Isidoro Quiroga, informed that the Asian company has raised its offer for the salmon firm, increasing the price to pay from USD 880 million to more than USD 921 million.
The salmon company has 89 aquaculture concessions in seawater, plus another five as leases. In 2017, it obtained consolidated revenues of USD 399.4 million, a gain of USD 73.4 million and an EBITDA (including Fair Value) of USD 123.2 million. At the end of 2017, the financial debt totalled USD 106.5 million, corresponding to commitments with banking institutions and financial leases, while its equity was USD 237.8 million.
The National Economic Prosecutor's Office of Chile (FNE) had already approved the agreement.
According to local media, Joyvio, the subsidiary through which Legend is carrying the agreement, has already completed the foreign exchange registration and received the approval of foreign investment from the Foreign Exchange Administration Department of Beijing and the State Administration of Foreign Exchange. and its authorized banks.
Author: Felipe Brion / Diario Financiero