Noticias

PESQUERÍAS BELNOVA S.A

Strategic Investment Opportunity in Uruguay

1. Executive Summary

Pesquerías Belnova S.A. represents a unique opportunity to acquire a leading Uruguayan fishing company operating two state-of-the-art freezer trawlers, RIO SOLIS II and RIO SOLIS IV, both fully modernized and operating under the Uruguayan flag.

The company has undertaken major capital investments exceeding USD 20 million over the past three years, positioning its fleet among the most efficient and technologically advanced in the South Atlantic region.

2. The Investment Opportunity

·         Transaction Type: 100% Share Sale.

·         Location: Montevideo, Uruguay.

·         Fleet: 2 x Modern freezer trawlers.

·         Target Species: Hubbsi hake + Illex.

·         Fishing permits:

(i)   Unrestricted permit.

(ii)   3500 ton quoted permit.

·         Permits validity: 5 years renewable for equal terms.

·         Fishing Ground: Inside Uruguay’s waters (DINARA)  and in the Argentine-Uruguay Common. Fishing Zone   (ZCP) regulated by CTMFM.

·         Annual Catch Quota: Secure long-term licenses with high catch potential.

·         Workforce: Experienced local crews and management.

·         Regulatory Framework: Uruguay offers a stable political and fiscal environment, with strong support for the fishing sector and export-oriented policies.

3. The Fleet

a) M/V RIO SOLIS II

·         Built: 1988 – Spain

·         Loa x Beam: 65.4 m x 11.0 m

·         Hold Capacity: 950 m³

·         Main Engine: Wärtsilä of 3.000 bhp

·         Crew: 40

·         Major Refitting: Completed 2022 (Investment: c. € 9 million)

·         Upgrades:

o    New processing plant and freezing installation.

o    Mycom 200VLD / Tyfoxit -200L-PS-CM (NH3) compressors.

o    Ten (10) freezing tunnels.

o    Bridge fully upgraded with modern navigation and electronic systems.

o    Accommodation and living areas completely refurbished.

b) M/V RIO SOLIS IV

·     Built: 1987 – Faroe Islands

·     Loa x Beam: 59 m x 13 m

·     Hold Capacity: 902 m³

·     Main Engine: Wärtsilä of 4,590 bhp

·         Crew: 51

·         Major Refitting: Completed 2024 (Investment: c. € 12 million)

·         Upgrades:

o    New processing plant and freezing installation.

o    Mycom 200VMD-TSM-E compressors.

o    Twelve (12) freezing tunnels.

o    Bridge upgraded with modern navigation and communication systems.

o    Full modernization of accommodation and auxiliary systems.

4. Competitive Advantages

•           Fully Modernized Fleet: Over € 20 million invested in 2022–2024 refits.

•           High Production Efficiency: Advanced freezing and processing technology.

•           Stable Operations: Experienced management and strong track record.

•           Export-Oriented Business: Direct access to EU and Asia markets.

•           Regulatory Stability: Uruguay provides a reliable and transparent framework for fishing operations.

•           Strategic Location: Montevideo as key logistics and maintenance hub for the South Atlantic fishing industry.