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Thursday, August 21, 2014
Pescanova sells salmon producer Nova Austral
Pescanova has sold salmon producer Nova Austral, part of Pesca Chile, to Norwegian fish feed producer Ewos, for a net cost of EUR7.4 million (US$9.9 million).
Ewos’ bid for Nova Austral is worth EUR134.6 million, the equivalent to the value of assets, but the final sale value decreased substantially because of liabilities of EUR128 million.
Another Pesca Chile unit, Acuinova, also is expected to be sold. The unit’s activities are approved to continue until the end of September, to value existing assets and facilitate is progressive liquidation, according to reports. Creditors authorized the sale of Acuinova and Nova Austral in June, with the aim of selling both firms by September 30.
“The idea is to sell the companies before that date. We will make an effort to make it,” Acuinova’s bankruptcy trustee Mariclara Gonzalez said at the time.