AMERRA’s Andromeda will buy majority stakes in two European fishing farming companies with the participation of the Abu Dhabi firm.
Mubadala Investment Company, the Abu Dhabi strategic firm with over $200 billion in assets under management, said on Thursday it has agreed to invest in an aquaculture company alongside US private equity firm AMERRA Capital Management.
Greece’s Andromeda Group, which is owned by AMERRA, will acquire majority stakes in two European fishing farming companies Nireus and Selonda and Mubadala will participate in the combined business venture, the Abu Dhabi firm said in a statement. It did not disclose the size of the stakes or the value of the transaction, which is subject to merger control approvals and other customary conditions.
“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,’’ said Elham Al Qasim, Agribusiness Director at Mubadala. “Aquaculture is one of the most promising sub-sectors, where the deployment of new technologies can drive productivity improvements and accelerate growth.”
Mubadala, which invests in various sectors abroad and has stakes in major companies in the UAE, has been a very active investor this year.
Earlier this month it announced a partnership with Japan’s SoftBank Group to launch a $400 million fund that will target investment in European technology companies.
“With our focus on aquaculture and agriculture investments, we are excited by the synergies that can be created between these companies,” said Thor Talseth, managing director of AMERRA Capital Management and Andromeda Group Chairman. “We believe that significant value can be created by building on the comparative advantages of the Mediterranean aquaculture sector.”
AMERRA Capital has more than $2bn in assets under management and has invested over $3.5bn since its inception in 2009.
MD Sass-Macquarie Financial Strategies, a joint venture between MD Sass and the Macquarie Group, launched AMERRA in 2009.