ECONOMY

Fish-farming firms in flux as banks are reluctant to get involved

Greece’s fish-farming sector is expecting significant developments in the coming months as the deal between Nireus and its creditor banks, the completion of the restructuring process at Selonda and a possible agreement for Dias’s debt restructuring suggest that the sector will only have a future in Greece if that also includes mergers and acquisitions.

After Selonda, banks may be ready to take over at least 75 percent of Nireus, but they do not want long-term involvement in a business so different to their own.

As a result, they can be expected to promote mergers, at least of the market’s main players, or their sale to interested strategic investors.