Food giant Cargill to buy $290 mln stake in Chile salmon farmer
[1/2] A Cargill logo is pictured on the Provimi Kliba and Protector animal nutrition factory in Lucens, Switzerland, September 22, 2016. REUTERS/Denis Balibouse/
SANTIAGO, March 18 (Reuters) - U.S.-based commodities trader Cargill Inc (CARG.UL) has agreed to acquire a 24.5% stake in the salmon farming subsidiary of Chile's Multiexport Foods for some $290 million, it said on Friday.
Chile is the world's second largest salmon producer after Norway. Cargill is a leading supplier of salmon feed.
Under the deal, Salmones Multiexport will also have a 1.13% stake sold to a local unit of Japan's Mitsui & Co (8031.T), whose stake in the firm will also reach 24.5%.
Multiexport Foods is set to receive a total $303.3 million.
The conditions of the deal - which still requires approval from antitrust watchdogs in the Unites States, Brazil and Chile - must be fulfilled in up to six months.
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