Nueva Pescanova requested a €350 million ($387.3 million) capital increase to carry out its business plan over the next four years, reports La Voz de Galicia.
Nueva Pescanova’s majority shareholders, the creditor banks, will study the proposal before making a final decision, though finance analysts said all the owners agree on the conditions.
After the €350 million ($387.3 million) capital increase, the creditor banks will continue to hold more than 50 percent of Nueva Pescanova, but old Pescanova shareholders will be left with no more than 2 percent of the Nueva Pescanova’s stake.
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