Glacier Securities acts as lead advisor to Chile’s Camanchaca in the sale of Centromar S.A.
Glacier Securities LLC, the New York-based subsidiary of Iceland’s Islandsbanki, acted as lead advisor providing investment banking services to Compania Pesquera Camanchaca S.A., one of Chile’s leading seafood producer and exporter, in its proposed sale of Pesquera Centromar S.A., its wholly-owned fishing and fishmeal subsidiary in Ecuador, to a group of investors led by Peru’s Congelados Peruana del Pacífico-CONPEPAC S.A. A binding agreement on the transaction has been signed by the parties. The transaction is scheduled to close at the beginning of October. Glacier Securities acted in Chile through its strategic partner Rainmaker Ltda.
Pesquera Camanchaca. S.A. (SNSE: CAMANCHACA) is a leading Chilean producer of salmon, trout, mussels and scallops. The company also operates a fleet of fishing vessels for jack mackerel, wild langostino and lobster as well as producing fish meal and fish oil. The company markets some of its products under the well-known seafood brand Pier 33.
Ignacio J. Kleiman, CEO of Glacier Securities, commented that the transaction is a highly strategic and intelligent decision by Camanchaca. “This transaction shows that the management of Camanchaca has a clear strategic plan for the group and is prepared to define and implement the right moves expeditiously and without hesitation. It has been a privilege to work with such a professional team and provide our expert advice to a market leader like Camanchaca.”