US-based venture capital fund Platinum Equity has to pay more than intended for a loan to finance it is using to finance Vigo-based fishing company Iberconsa, reports Expansion.
Earlier in June, the fund announced it had completed the acquisition of a majority stake in Spanish fishing giant Iberconsa from Portobello Capital.
Platinum will buy Iberconsa for €500 million ($560.7 million) via a syndicated loan and a line of credit worth €385 million ($431.7 million), in the name of the fishing business's parent company.
