Food Giant Cargill to Buy $290 Million Stake in Chile Salmon Farmer | Investing News

SANTIAGO (Reuters) – U.S.-centered commodities trader Cargill Inc has agreed to purchase a 24.5% stake in the salmon farming subsidiary of Chile’s Multiexport Foodstuff for some $290 million, it said on Friday.

Chile is the world’s 2nd major salmon producer after Norway. Cargill is a leading provider of salmon feed.

Below the deal, Salmones Multiexport will also have a 1.13% stake bought to a neighborhood device of Japan’s Mitsui & Co, whose stake in the firm will also get to 24.5%.

Multiexport Foodstuff is established to get a whole $303.3 million.

The conditions of the offer – which even now involves acceptance from antitrust watchdogs in the Unites States, Brazil and Chile – have to be fulfilled in up to six months.

(Reporting by Fabian Andres Cambero Creating by Gabriel Araujo Modifying by Chizu Nomiyama)

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