Bitsakos, G. & P., Aquaculture S.A. and Kefalonia Fisheries S.A. signed a agreement to acquire Bulk of the seabass and sea bream farms from Nireus Aquaculture S.A. and Selonda Aquaculture SA.

Bitsakos, G. & P., Aquaculture S.A. and Kefalonia Fisheries S.A. signed a agreement to acquire Bulk of the seabass and sea bream farms from Nireus Aquaculture S.A. (ATSE:NIR) and Selonda Aquaculture SA (ATSE:SELO) on August 13, 2019. As per the transaction Bitsakos, G. & P., Aquaculture S.A. will acquire farms with a capacity of over 10,000 metric tons as well as hatcheries with a capacity of 50 million smolts and Kefalonia Fisheries S.A. will acquire 1,000t of farms. Selonda Aquaculture SA will sell 6,295 tons of the farms worth of approximately €35 million in sales and Nireus Aquaculture S.A. will sell 5,000 tons of the farms worth of €30 million. Ernst & Young acted as broker in the transaction.