Chilean seafood giant Camanchaca will have to pay $87.2 million (€80.5 million) to acquire the 30 percent stake in its PescaSur fisheries division it doesn't already own.

Camanchaca and Grupo Bio Bio sought arbitration to resolve a disagreement relating to the sale of a 30 percent stake in Camanchaca's Pesca Sur pelagic division.

Camanchaca currently owns 70 percent of Pesca Sur and Bio Bio 30 percent.

Under an agreement, Camanchaca is obliged to acquire Bio Bio's full stake should it opt to sell.