Food giant Cargill to buy $290 mln stake in Chile salmon farmer

SANTIAGO, March 18 (Reuters) – U.S.-centered commodities trader Cargill Inc (CARG.UL) has agreed to obtain…

SANTIAGO, March 18 (Reuters) – U.S.-centered commodities trader Cargill Inc (CARG.UL) has agreed to obtain a 24.5% stake in the salmon farming subsidiary of Chile’s Multiexport Foodstuff for some $290 million, it stated on Friday.

Chile is the world’s next biggest salmon producer immediately after Norway. Cargill is a major supplier of salmon feed.

Less than the deal, Salmones Multiexport will also have a 1.13% stake marketed to a neighborhood device of Japan’s Mitsui & Co (8031.T), whose stake in the organization will also reach 24.5%.

Multiexport Foodstuff is set to receive a whole $303.3 million.

The circumstances of the offer – which however necessitates approval from antitrust watchdogs in the Unites States, Brazil and Chile – will have to be fulfilled in up to 6 months.

Sign up now for Free of charge endless entry to Reuters.com

Sign up

Reporting by Fabian Andres Cambero Crafting by Gabriel Araujo Editing by Chizu Nomiyama

Our Standards: The Thomson Reuters Trust Principles.

See also  68+ Cinco de Mayo Food, Appetizers, and Recipes