Nueva Pescanova partners have approved a capital increase of €135.4 million ($145.1 million), boosting the company's equity to €147.6 million ($158.2 million).
Until now the company was valued at €12 million ($12.9 million).
The increase will be done through a debt conversion by the creditor banks, who will swap their debt for equity amounting to €340 million ($364.4 million).
"With this transaction, Nueva Pescanova will strengthen its resources and will reduce its debt considerably, which will allow the company to carry out its strategic viability plan," the company said in a press release.
Nueva
