Investor sought for fish farming giant
Creditor banks are searching for a new buyer for the scheme created under the name Avramar, specifically for the fish farming company’s activities in Greece, five years after the sale of Selonda and Nireus to the Andromeda aquaculture group.
Although no relevant procedure has been officially initiated yet either by the creditor banks, which would be obliged to do so if there was a credit event, or by the current shareholders, namely the funds Amerra Capital Management and Mubadala Investment Company, potential investors are unofficially being scouted.
The most likely scenario, however, in case the sale process goes ahead, is that Avramar’s activities will not be sold as a whole to an investor, but in pieces to various interested parties.
What market players emphasize is that valuable time has already been lost and the situation is becoming more and more difficult with each passing day, not only for Avramar, but for the fish farming industry as a whole.
In the next few days, the creditor banks are expected to send a letter to Amerra and Mubadala requesting their consent to start the sale of Avramar’s activities in Greece.
