Swedish private equity fund Altor has acquired Bain Capital’s stake in Chilean salmon farmer Nova Austral.

Altor Fund III GP Limited said in a stock exchange announcement on Monday it had signed and closed the acquisition of US private equity firm Bain Capital’s stake in Nova Austral through the parent company Albain Holdco.

Altor and Bain bought Nova Austral together in 2014.

Last week, Nova Austral asked bondholders to approve a new $8.5 million (€8.8 million) equity issue as the company continues to struggle financially.