Invermar consider merge with rivals, Surmar

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Chile salmon farms to consolidate.

The salmon company Invermar has agreed to start a merger process with rival company, Surmar according to Latercera.

Invermar appointed Credicorp Capital to prepare an indepandant evaluation and inform its shareholers about the conditions of the operation and its potential impact.

Invermar shares rose 4.55% in the Santiago Stock Exchange following the announcement.

Santiago-based Invermar, earned USD 64.78 million in the first quarter of 2018.

Both companies are part-owned by Chilean fishmeal and fish oil producer, Alimentos Marinos (Alimar), which took a majority stake in Invermar in 2015.