The China-based owners of Chilean salmon producer Australis Seafoods plan to sue the company's former owners and management for $1.2 billion (€1.1 billion), claiming they routinely hid cases of overproduction.
Australis CEO Andres Lyon said his company would take action against billionaire former owner Isidoro Quiroga, the company's board members and executives.
"We have evidence from communications between directors and executives from the company prior to the acquisition and during the due diligence process that they decided to hide the information," Lyon told Chilean publication El Mercurio.