StockMarketWire.com - Benchmark, the aquaculture health, nutrition and genetics business, said it had completed the dissolution of its joint venture with AquaChile.

As previously announced, Benchmark said it would receive its $16.25m original investment in the JV, with payment expected in two instalments: A $7.5m payment would be made 10 days after completion and the balance $8.75m six months after completion. The Company will also receive the IP rights, genetics stock and biomass in the JV.

'The dissolution has created an opportunity for Benchmark to take control of a land based salmon breeding facility belonging to the JV. The Company is in the process of conducting due diligence on the facilities and it is expected that the transfer of ownership will take place in the coming weeks. A further announcement will be made in due course,' the company said.






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