Abu Dhabi-based Mubadala Investment Company has acquired shares in an aquaculture company formed through a merger of Athens-based Andromeda Group and two other Greek fish farming firms, Nireus and Selonda.
The size and value of shares acquired by Mubadala were not disclosed.
US-based Amerra Capital Management is the current owner of Andromeda Group.
Once approved by European regulators, the merged company is expected to play a leading role in the global aquaculture sector.
Mubadala Investment Company, which maintains a $127bn investment portfolio, began investing in the agribusiness sector in 2017.
The decision to branch out into agribusiness is driven by the sector’s strategic importance to the global economy, offering “significant potential for value capture”.
“Aquaculture is one of the most promising sub-sectors [in agribusiness], where the deployment of new technologies can drive productivity improvements and accelerate growth,” said Elham al-Qasim, agribusiness director at Mubadala.
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