Marine Harvest announced today (9 June) the proposed merger of its Chilean business, Marine Harvest Chile, with AquaChile has been terminated.
"The potential merger was subject to a number of conditions including, among other things, execution of definitive transaction documentations, due diligence and approvals from relevant competition authorities. The parties have unfortunately not been able to reach a joint final agreement and the conditional transaction agreement has been terminated by mutual consent," the Norwegian seafood company said in a regulatory filing.
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The proposed deal was announced the deal in January. At the time, Marine Harvest chairman Ole-Eirik Lerøy said the transaction would "further strengthen" its "already strong position" in salmon farming in Chile.
Marine Harvest has reiterated its commitment to the Chilean salmon industry. "MHG still believes in Chile as one of the global centres for salmon farming going forward. Accordingly, MHG will continue to develop its current farming assets in Chile through its wholly-owned subsidiary MH Chile. MHG still believes that consolidation in Chile is a prerequisite for establishing a profitable and sustainable industry in the region," the company said today.
