Pescanova’s board approved a capital increase of €350 million ($386.8 million) to be effective by the end of the year, reportsLa Voz de Galicia.
So far, it is unclear how the capital injection will be conducted, although it will consist of an exchange of debt for shares.
“Pescanova’s board will gather in a general shareholders meeting in September to approve this operation and make it effective at the end of the year, between November and September,” the company said.
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