Benchmark Holdings plc announced that it has completed the dissolution of its joint venture with AquaChile. Benchmark will receive its $16.25 million original investment in the JV. Payment will be made in two instalments, a first $7.5 million payment will be made 10 days after completion and the balance $8.75 million six months after completion.

The company will also receive the IP rights, genetics stock and biomass in the JV. The dissolution has created an opportunity for Benchmark to take control of a land based salmon breeding facility belonging to the JV. The company is in the process of conducting due diligence on the facilities and it is expected that the transfer of ownership will take place in the coming weeks.