Peru: Exalmar and Dordogne to buy Cormar

Dordogne Holdings Inc, the leading shareholder in Austral Group, and Pesquera Exalmar have reached a deal whereby they will acquire 100% of shares in another fishing group, Corporacion del Mar (Cormar). Dordogne of Norway has moved to keep up with Peruvian players such as Grupo Brescia (Tasa) and the family Dyer (Copeinca). In the recent past, Dordogne Holdings and Tasa allied in a bid to try to buy Corporacion Malla but the deal didn't come off. Cormar has four fishmeal and fish-oil plants in Paita, Casma, Callao and Tambo de Mora (Chincha) as well as seventeen boats that can store 350 cubic metres each. In the first third of 2007, Cormar exported fishmeal and fish-oil to the tune of US$8.414mil.

Publication: SABI - Business News
Provider: South American Business Information
Date: July 23, 2007

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