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Food giant Cargill to buy $290 million stake in Chile salmon farmer -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – A Cargill logo can be seen on Provimi Kliba and Protector, Lucens (Switzerland), September 22, 2016. REUTERS/Denis Balibouse/

SANTIAGO. (Reuters). SANTIAGO – U.S.-based commodities traders Cargill Inc announced Friday that it had agreed to buy a 24.5% interest in Chile’s Multiexport Foods subsidiary for around $290million.

Chile, after Norway, is the second-largest salmon producer in the world. Cargill is the leading supplier of salmon feed.

Under the deal, Salmones Multiexport will also have a 1.13% stake sold to a local unit of Japan’s Mitsui & Co, whose stake in the firm will also reach 24.5%.

Multiexport Foods will receive $303.3 Million in total.

All conditions must be met within six months, although they still need to be approved by the antitrust watchdogs of Brazil, Chile and the U.S.

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