Abu Dhabi’s Mubadala Investment Company and Amerra Capital Management LLC will acquire majority stakes in two Greek fish farming companies, the buyers said in a joint statement on Thursday.
The two will acquire majority stakes in Nireus SA and Selonda SA, which mainly farm Sea Bass and Sea Bream.
The acquisition is subject to merger control approvals and other conditions, the statement said, without disclosing the stake sizes or values.
The goal is to form a new multinational company that will play a leading role internationally in the aquaculture sector, the companies siad.
“Mubadala took the decision last year to build its presence in the agribusiness sector, which is strategically important to the global economy and has significant potential for value capture,” said agribusiness director at Mubadala Elham Al Qasim.
“Aquaculture is one of the most promising sub-sectors, where the deployment of new technologies can drive productivity improvements and accelerate growth.”
Amerra Capital is an independent asset management firm.
With contributions from Reuters