North American investment fund Broadbill Investment Partners is opposing the current management of old Pescanova and its attacks against the creditor banks, and is proposing an alternative board configuration to be debated in the next shareholder meeting, scheduled for Sept. 20.
The fund -- which helped the old Pescanova maintain a 20 percent shareholding of the new company -- owns 3.7 percent of old Pescanova and 0.11 percent in Nueva Pescanova, said the actual board is “exhausted” and needs to be strengthened, claiming the directors are not considering alternative business strategies.
Among
