The end of the agreement means that Benchmark’s original investment of US $16.25 million will be returned in two installments – the first $7.5 million payment will be made 10 days after completion and the remaining $8.75 million six months after completion.
Benchmark will also receive the IP rights, genetics stock and biomass in the JV and the opportunity to take control of a land-based salmon breeding facility belonging to the JV.
In a statement issued today, Benchmark said it “is currently 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”.
