LONDON: Mubadala has netted a major fish farming deal as the Abu Dhabi-based strategic investment company targets the aquaculture sector.
Andromeda Group, a European firm with fish farming operations in Greece and Spain, has acquired stakes in two companies called Nireus and Selonda that mainly farm Sea Bream and Sea Bass.
Mubadala, which jointly owns Andromeda with AMERRA Capital Management, is a shareholder in the combined business.
“With our focus on aquaculture and agriculture investments, we are excited by the synergies that can be created between these companies,” said Thor Talseth, Andromeda group chairman. “We believe that significant value can be created by building on the comparative advantages of the Mediterranean aquaculture sector.”
Sovereign investors across the region are increasingly investing in food resources on land and sea as a growing global population needs feeding.
“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, Mubadala’s agribusiness director. “Aquaculture is one of the most promising sub-sectors, where the deployment of new technologies can drive productivity improvements and accelerate growth.”
Mubadala’s global investment portfolio is valued at some $127 billion with assets spanning finance, energy, defense, real estate and health care.
Mubadala goes fishing for deals in the Mediterranean
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