The sales process for Greek bass and bream giant Avramar can now begin in earnest after the company successfully secured a €20 million ($21.7 million) bridge loan from creditor banks, a spokesperson for its private equity owners, Amerra Capital Management, told IntraFish.
A key condition of the loan was the creation of a pledge on all the shares, which signals the start of the Avramar sale process, the spokesperson said.
The deal comes six months after it was revealed that Avramar's creditor banks had called in financial specialists Deloitte to explore the prospects for a quick sale of the aquaculture firm.
