Dias and Selonda Announce Merger to Form Biggest Sea Bream, Bass Farm08 April 2013
GREECE - Dias Aquaculture, one of the three largest groups in the Mediterranean aquaculture industry, has announced its merger with Selonda. Both Greek companies farm sea bass and sea bream.
Following the merger, Dias Aquaculture will absorb Selonda but will be renamed Selonda Aquaculture.
As a result of the merger, the two companies will form the largest sea bass and sea bream producer in the world, with approximately 40,000 tones of annual production, and will employ approximately 1,500 people.
The terms of the merger state that Selonda's shareholders will exchange one existing share of Selonda, having a nominal value of €1, with 0.6955972 new shares of the merged entity, having a nominal value of €1, and DIAS’ shareholders will exchange one existing share of Dias, having a nominal value of €0.47, with 0.8357242 new shares of the merged entity having a nominal value of €1.
If the merger does not complete by 30 April 2014, the merger process will cease, unless otherwise agreed by the Companies.
TheFishSite News Desk