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Blumar-backed Chilean mussel producer strikes merger deal with rival

St. Andrews and rival Orizon want to raise competitiveness on global markets.

Chilean mussel producers St. Andrews and rival Orizon have agreed to join forces under a merger agreement between the companies, Economía y Negocios Online reports.

The merger follows a capital injection by Blumar-backed St. Andrews.

The combined company will seek greater market share by taking advantage of greater combined commercial and financial firepower.

Following the merger, the company will be owned 40 percent each by Chilean capital investment fund A5 Capital and Blumar, and 20 percent by Orizon.

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