Empresas AquaChile S.A. signed a binding agreement to acquire Salmones Magallanes S.A and Pesquera Eden Ltda. from the Galmez family for approximately $260 million.

Empresas AquaChile S.A. (SNSE:AQUACHILE) signed a binding agreement to acquire Salmones Magallanes S.A and Pesquera Eden Ltda. from the Galmez family for approximately $260 million on June 1, 2018. The transaction will be funded using a combination of debt and by drawing from a $200 million capital plan approved by shareholders earlier this year.

As on July 9, 2018, Empresas AquaChile announced a plan to issue $340 million worth of shares on the Norwegian stock market to finance this transaction and other acquisitions, which replaces the previously approved plan by shareholders to raise $200 million. The transaction is subject to regulatory approvals. Carey & Allende Abogados acted as legal advisor to Empresas AquaChile S.A. (SNSE:AQUACHILE).