Spanish bank Abanca nearly doubled its stake in Nueva Pescanova taking it up to 9 percent, reports Bolsamania.
The bank entity bought out a 3.5 percent share held by Bankia and a further 0.068 percent from Deutsche Bank due to the “key role it plays in the creation of jobs,” it said.
Abanca had a participation of 5.5 percent in Nueva Pescanova before the acquisition of shares.
The bank is expected to continue to invest in Nueva Pescanova.
“We are committed to help and stay in the shareholding of Nueva Pescanova,” said Juan Carlos Escotet, president of Abanca.
