Spanish bank Abanca is now the second largest shareholder of Nueva Pescanova after recently acquiring a package of securities equivalent to 6.77 percent of its capital from HSBC, reports Atlantico.
With this latest acquisition, Abanca increases its stake in Nueva Pescanova to 16.04 percent -- tripling its previous shareholding of 5.4 percent.
"Our presence in the shareholding structure of Nueva Pescanova wants to contribute positively to the momentum of the company's current and future strategic projects," said Francisco Botas, CEO of Abanca.
