Pescanova S.A. -- also known as "Old Pescanova" -- will create a new company, Pescanova Participaciones, to be named as representative of the minority shareholders at New Pescanova’s board of directors.
The company will name the two legal entities – Pescanova S.A. and Pescanova Participaciones -- as representatives, rather than two persons, and will appoint one person to represent each of the companies, according to El Diario Vasco.
This way, the person responsible for representing each entity could be replaced easily if needed.
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