Friday, 13 March 2020 14:05

Gates invests in Greek fish

EM2 20 News Int GatesFish farming may not be the first thing that comes to mind when thinking about Bill Gates, but the philanthropist has made an investment in Greek aquaculture company Philosofish, Ekathimerini.com reports.  The Bill and Melinda Gates Foundation has already supported Greek-owned fund Diorasis, which already has invested in Philosofish (formerly Bitsakos Fish Farming) and has also invested in WorldFish, focusing on fish farming in the developing world, so aquaculture is no new thing.

Philosofish is now the second largest Greek seabass and sea bream farming company thanks to the European Commission’s approval last year of rival Andromeda’s acquisition of Selonda and Nireus. The three-way merger could only be sanctioned through the sale of Nireus and Selonda assets to a third party. One of these was Philosofish, which subsequently added 12,000 tonnes to its existing 5,000 tonnes annual capacity in addition to taking over other assets. Sources say that additional funding by a top investment entity may find its way to the Greek company in the near future.