Blumar owners selling 79% stake in company

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Santa Cruz – Yaconi group to sell its assets and withdraw from the fishing & aquaculture sector altogether.

In a financial statement on Friday, Blumar – which owns Salmones Blumar and recently acquired Salmones Ice-Val in the Aysén Region – has informed the decision of the Las Urbinas Group (linked to the Santa Cruz and Yaconi families) not to renew the shareholders’ agreement that it holds with Inversiones Petrohué (linked to the Sarquis family), through which they jointly control 78.81% of the company

Grupo Las Urbinas stated that it wants to divest its assets in the aquaculture and fishing sector and redirect that investments to other businesses.

Under the agreement, given the decision of the Las Urbinas Group, the controllers are obliged to sell all of their Blumar shares in a competitive sale, a process that will be led by an investment bank designated by common agreement within a period of 30 business days. The sale must be made within a period of between 6 and 12 months.

For its part, Petrohué Investments, faced with the decision of Grupo Las Urbinas to make use of the right established in the shareholders’ agreement for non-renewal, valued the contribution of its partners in the joint work of eight years.