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/ Chinese giant take over Australis for more than US $ 921 million

29 July, 2019

In November 2018, the Australis Seafoods salmon company agreed to its purchase by the Chinese group Joyvio for about US $ 880 million. However, the business closed for an even larger amount. In June 2019, Joyvio, through its subsidiary Food Investment SpA, made the Public Offering of Shares (OPA) effective for 100% of the subscribed and paid shares of the company at US $ 921,624,000.

Joyvio is a subsidiary of Legend Holdings Corporation, a finance company that operates as a private equity investor, which had already bought a fishing industry company in Australia and is recognized worldwide for controlling Lenovo.

The buyers explained that the acquisition of Australis is part of the new “Silk Road”, China’s million-dollar investment worldwide to expand global trade. China has spent nearly $14 billion on this multi-pronged project. In an interview for La Tercera, Joyvio assured that “the acquisition of global resources of high-quality marine proteins that are scarce in China is important to improve China’s food consumption and complement the advantages between China and Chile under the initiative ‘The Silk Road Fund ‘”.

 

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