Aquaculture North America

Nireus financial restructuring

May 25, 2015
By Erich Luening

Nireus Aquaculture (NIRr.AT-Athens Exchange) announced recently that it had reached an agreement with its creditor banks  which includes capitalization of loans up to €58.600.000 with the issuance of new shares to the lending banks at €0,30 par value, which is expected to result into approximately 75% ownership of the share capital by the creditors.

Nireus Aquaculture is active in the production, marketing and distribution of bream, sea bass, salmon and cobia.   With this agreement, the company is planning for a period of growth and profitability.  President and CEO, Aristedes Belles, stated on the company website “After a long period of negotiations, an agreement has been reached with the creditor banks that … sets the foundation and support for the firm progress of the company to new achievements ..”

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