Abu Dhabi-based Mubadala Investment Company is partnering with Greece’s aquaculture leader Andromeda and Amerra Capital Management to acquire majority stakes in two European fish farming companies: Nireus SA and Selonda SA.

Thor Talseth, managing director of Amerra Capital Management and Andromeda Group chairman, said: “With our focus on aquaculture and agriculture investments, we are excited by the synergies that can be created between these companies. We believe that significant value can be created by building on the comparative advantages of the Mediterranean aquaculture sector.”

Elham Al Qasim, agribusiness director at Mubadala Investment Company, said: “Mubadala took the decision last year to build its presence in the agribusiness sector, which is strategically important to the global economy and has significant potential for value capture. Aquaculture is one of the most promising sub-sectors, where the deployment of new technologies can drive productivity improvements and accelerate growth.”

Dimitris Valachis, Group CEO of Andromeda Group said: “Our goal is to form a new multinational company that will play a leading role internationally in the aquaculture sector. We will join forces and share knowledge, expertise and human resources to create a global aquaculture company that will boost the growth of the Greek fish farming industry.” – TradeArabia News Service