Follow-up Story

New extension in AVRAMAR Greece’s restructuring plan as investor rivalry persists

Athens, Greece, 11 November 2025 |

AVRAMAR granja en Grecia

The restructuring process of AVRAMAR Greece, the Mediterranean’s largest integrated producer of gilthead seabream and European seabass, faces a new extension in the submission of its viability plan, according to the Greek financial press. The creditor banks have granted an additional extension to the exygiánsi (corporate rehabilitation) timetable, which had been scheduled for Monday, 10 November, in order to allow a definitive agreement to be reached with potential investors.

Although no official confirmation has been released, this new deadline is expected to fall in the last week of November, between 24 and 28 November, barring unforeseen developments, according to Capital.gr.

The decision comes amid mounting tension between the two groups vying for control of Avramar’s Greek assets: Aqua Bridge Group, a consortium based in the United Arab Emirates and designated by the banks as the preferred investor; and Cooke Inc., the Canadian aquaculture multinational, which continues to push for an improved offer to prevent Aqua Bridge from finalizing the deal.

According to figures published by Naftemporiki, Avramar holds total liabilities of €580.2 million, of which €546.6 million are short-term debts. Around €240 million have been reclassified as bank loans of immediate maturity, underscoring the urgency of concluding the restructuring.

Financial soures quoted by Greek media note that the group must establish a new capital structure and secure a liquidity injection to ensure the continuity of its production operations in Greece and Spain. Meanwhile, the company’s industrial and commercial activities continue without major disruption.

The extension of the timetable prolongs uncertainty over Avramar’s future, although analysts broadly agree that a final resolution should be reached before the end of the first quarter of 2026, once the banks determine the winner in the contest between Aqua Bridge and Cooke Inc.