Shareholders of "Old Pescanova" -- who in turn own 20 percent in "Nueva Pescanova" -- will accept the latter's proposal of a capital increase despite their initial strong opposition to the plan when it was first announced.
“Despite having agreed to oppose any possible capital increase on Dec. 21, and after learning the plan and financial terms proposed by Nueva Pescanova, the board considers it imperative to allow the means for Nueva Pescanova’s board to adopt the decision agreed by its main creditors,” the shareholders said in a note sent to Spain’s National Commission of the Security Markets (CNMV).
This
