Entrepreneur Isidoro Quiroga agreed to sell his shares to Joyvio, which is the holding property that manages a computer company. In August, Agrosuper announced the purchase of AquaChile at a price of US $ 850 million.
Isidoro Quiroga approved Australis sales to giant Asia Joyvio, owned by Legend's parent company, which, among others, managed a Lenovo computer company, in an operation that can reach US $ 880 million.
Chilean businessman controlling 94.5% of salmon farmsHowever, the Asian company reported that it will launch a Stock Takeover (OPA) Offer for 100% of companies, in an operation – the biggest so far in the national salmon industry – where LarrainVial participated as an exclusive advisor.
"In accordance with the sales pledge, the shareholders agreed with Joyvio that, if the transaction materializes, the price to be offered in the takeover offer for all Australian shares will (…) amount to US $ 880 million," he said. important facts sent to the Chilean salmon company president's regulator, Martin Guiloff.
It was determined that the agreement considers a set of conditions that must be met at the latest in April 2019. In addition, it was shown that after Joyvio completed satisfactory due diligence, the parties would sign a related share purchase agreement, and then they would request authorization from the Chinese authorities and other related permits in Chile and abroad. After all that is obtained, OPA will be launched in 10 working days, which will not be subject to conditions of success or cause of expiration.
In the event that one party fails to comply with the contract, others might charge US $ 20 million in damage, essential fact words.
In August this year, Agrosuper-phirma controlled by Gonzalo Vial – reached an agreement to take control of Empresas AquaChile, in business worth US $ 850 million. Transactions will be realized through a Public Offering (OPA).
The Agrosuper offer of $ 473 per share (on the exchange rate observed August 6), is equivalent to 15% prize against $ 410 from closing before the agreement is communicated.