Spanish bank Abanca has made a move to hold 93 percent of shares of Galician seafood company Nueva Pescanova, an operation worth €200 million ($217 million), by purchasing the shares of CaixaBank, Banco Sabadell, Bank of America, and the Brookfield fund, reported El Pais.
According to the publication, Abanca -- owned by Spanish-Venezuelan billionaire banker Juan Carlos Escotet -- has always wanted to own the company. It currently holds a 39 percent stake.
Abanca has already made an offer, which has since been upped after being rejected by the other entities for being "very low."
