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Businessman Isidoro Quiroga has agreed to sell the shares of Joyvio, a company owned by the computer company. In August, Agrosuper announced the acquisition of AquaChile for $ 850 million.
Isidoro Quiroga has agreed to sell Australis to Asian giant Joyvio, which belongs to the holding company Legend, which, among other companies, runs Lenovo in an operation could reach 880 million USD.
Chilean businessman controls 94.5% of the salmon farm, but the Asian-based company has announced that it will launch a public takeover bid (OPA) for 100% of the company in an operation – the largest so far in the national salmon industry – involving LarrainVial as an exclusive counselor.
"In line with the sale promise, shareholders agreed with Joyvio that if the transaction materializes, the price that will be offered in the takeover bid for all Australis shares will be (…) 880 million dollars," he said . an essential fact sent to the regulator, to Chilean salmon company chairman, Martín Guiloff.
It was stated that the agreement takes into account a number of conditions that must be met at the latest in April 2019. In addition, it is underlined that once Joyvio has completed a satisfactory due diligence, the parties will sign the respective purchase agreement and then apply for authorization from the Chinese authorities as well as other appropriate permits in Chile and abroad. Once all this has been achieved, OPA will be released within 10 business days, which will not be subject to success or cause of expiration.
If either party does not comply with the contract, the other may charge $ 20 million as damages, tells the essential truth.
In August of this year, Agrosuper, controlled by Gonzalo Vial, reached an agreement to take control of Empresas AquaChile, in a $ 850 million deal. The transaction will materialize through a Public Offering of Shares (OPA).
The Agrosuper offer of $ 473 per share (at the exchange rate observed on August 6) is equivalent to a 15% compared to $ 410 in the pre-notification agreement.
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