Aquaculture players globally will be looking at M&A's in Chile, but Cermaq's acquisition of Cultivos Marinos Chiloé should not be seen as guide, said the chairman of Pescanova, Europe's second largest seafood company.
"Synergies are not achieved by buying run-down assets, but quality ones," Pescanova's chairman Manuel Fernández de Sousa-Faro said at a conference announcing its third-quarter results.
"Different players are going to look for synergies, but Cermaq's acquisition for a bargain price is unlikely to be guidance for further consolidation," de Sousa-Faro said.
This
