The company has highlighted the potential and benefits of the Magallanes region. He adds that Joyvio is trying to consolidate in the fishing industry.
On the other side of the world, the potential of the salmon sector in Chile appears as a round trade. Thus, the Chinese giant Legend, through its subsidiary, Joyvio Group, announced an offer of $ 880 million on Sunday to buy Salmones Australis. And take your first step in the industrylocal river.
The payout in the Chinese market has not gone unnoticed. Its Executive Director and President Zhu Linan was generous when he came to present the arguments that justified the great expense.
In the Hong Kong letter, he went over the details of Isidoro Quiroga's business as a counterpart (see profile on page 6) and went into the due diligence phase – the potential of buying. Among them the presence of Australis in Magallanes, a key factor in their decision.
"Australia has several licenses in the Chilean region No. XII, which has the greatest development potential and the most extensive natural resources, and it is a company in the XII region with the highest production that still has great room for its future growth." Says the Chief Executive Officer, known worldwide for Lenovo development.
Another axis in favor was the solid situation of the company compared to other possibilities in the industry. "The company has good corporate governance, an excellent management team and leading performance indicators with high reputation and solid profitability," he said.
Other key factors, according to experts, were the financial position of the company, which last year cut its debt by $ 60 million.
A key part of your puzzle
The acquisition of Australis not only promises profitability but also corresponds to Joyvio's strategic plan.
According to the executive, the subsidiary "has successfully established its presence in the domestic and foreign fisheries and acquisitions will significantly facilitate the full implementation of the complete Joyvio fishing strategy."
In fact, he adds that salmon production in his mix will help build the brand "in the field of fishery products, improve return on money and profitability".
In addition, he states that buying Australis "will create synergies in a series of sizes and will allow companies (Australis) to grow faster."
In 2017 Australis produced approximately 64,000 tons of salmon, accounting for 9% of total production in Chile. The operation is subject to authorization in Chile and China.
Signature shares are on the Santiago stock exchange at 26.43%
The appetite at the Santiago Stock Exchange was activated immediately after the announcement. Especially for Australis, it meant an increase of 26.43% in its documents, worth 79.65 USD. With this, he was at the forefront of development among all the titles listed on the capital bout.
Online, the six populations that grew most were fishing. Camanchaca rose 4.23% and Multiexport rose 5.19%, while Invermar and Salmons Camanchaca increased by 4.55% and 4.39% respectively. The group finished Blumar with 4.39% in advance.
Salmon companies have managed to swamp this year against the turmoil in stock markets. While this year's S & P / CLX IPSA has fallen by 7%, it is led by Multiexport's four fisheries sectors.