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Six companies expressed interest in Avramar’s sale

The evaluation of the first round of the Avramar group's rescue operation is positive

Six companies participated in the first part of the tender for the sale of the Avramar group, operating in domestic fish farming, that resulted from the merger of the companies: Andromeda, Nireas and Selonda, according to Naftemporiki’s sources.

Among the companies are: the Atitlan fund, without the participation of the Arab investment company ADQ, Philosofish whose main shareholder is Diorasis International S.A., Grupo Profand, through Kefalonia Fisheries and three more funds, one of which is European.

Neither Danish fish feed company Biomar nor industry leader Cooke, which previously entered the competition to sell Nireas and Selonda, appear to participate. Unless, of course, the presence of these two companies is “concealed” through cooperation with one of the funds that submitted a non-binding interest.

Positive development

In any case, the evaluation of the first round of the Avramar group’s rescue operation is positive, as negative scenarios of zero participation circulated before the expiry of the deadline.

Now, the way is opened for due diligence and access to Avramar’s data. The aim of the banks is for the procedures to “run” quickly, however it is estimated that interested parties will need one to two months to visit the facilities and to check the current situation of the group both in terms of financial data and marketable dynamics stocks.