StockMarketWire.com - Benchmark said it was talks with AquaChile to dissolve their joint venture as the company seeks to reinvest the funds to take control of the salmon breeding facility currently owned by the JV.

The comes after Agrosuper, in January this year, completed the acquisition of AquaChile, creating an opportunity for Benchmark to take control of a salmon breeding operation in Chile currently owned by the JV, allowing it to pursue an independent strategy.

'We are pleased to have the opportunity to fully own the world class salmon breeding facility currently owned by the JV and to reinvest the funds to move towards full scale production and commercialisation,' said Malcolm Pye, Benchmark Chief Executive.

'Whilst this marks a change to Benchmark's approach to the market, it is a positive step towards fulfilling our key objective of accelerating our establishment of a strong local presence in this important market, in line with our strategy.'

The discussions envisage a return of the company's original equity investment in the JV, together with Benchmark's IP rights, the genetic stock and biomass, and resources sufficient to operate the 50m egg facility, Benchmark said.


At 8:48am: [LON:BMK] Benchmark Holdings Plc share price was +0.5p at 41.5p



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