Chile’s antitrust office sign off on Agrosuper multi-million AquaChile purchase

News
1069

Goverment agency clears path for Agrosuper to become second largest salmon farmer in world.

Chile’s antitrust office has given the greenlight to Agrosuper to buy AquaChile declaring that the deal does not break any competition laws, according to Reuters.

Chilean food conglomerate Agrosuper announced back in August its intention to buy AquaChile (through a Public Offer of Acquisition) for USD 850 million, effectively turning it into one of the largest salmon farmers in the world.

“The operation is not capable of substantially reducing competition, since it does not exceed the established concentration thresholds,” Chile’s National Economic Prosecutor’s Office (FNE) said.

That AquaChile distributes its products only through specialised stores, while Agrosuper supplies supermarkets was a key factor in the descision. Furthermore, the investigation could not highlight any potenial anti-competitive conduct.

AquaChile shares remained stable on Wednesday afternoon at the Santiago stock exchange after the announcement.