Pescanova SA was a Spain-based company engaged, through its subsidiaries, in the fishing industry. The Company is a parent of Grupo Pescanova, whose principal activities include production, processing and distribution of fish as food products. The Group includes such companies as Argenova SA, Bajamar Septima SA, Frinova SA, Pescafresca SA, Marnova Lda, Pescamar Lda, Pesquerias Belnova SA,Frigodis SA, Krustanord, SA, Pescafina, SA and Novagroup among others.
The Company’s activities can be divided into three areas: wild catch, farmed fish and food products. In the wild catch division, Pescanova operates through the Fishco group, which owns a fishing fleet of more than 130 vessels and several factory tankers where fish and shellfish are processed and frozen immediately after being caught. Within the farmed fish area, it operates through Acuicultura, engaged in the development of technology for the fishing activities. In the food products area, it is active through Aliholding, offering deep-frozen foods.
Pescanova Group operates in 21 countries with aprox.3,400 employees.
The company is in bankruptcy (under "administration") since April 2013
In September 2015, the shareholders' meeting was held in which a plan for the rescue, capital increase and the refoundation of the company under the name of Nueva Pescanova was approved by a majority. As a consequence of the meeting, a corporate holding is created that will absorb the Spanish subsidiaries and also the entry of the creditor bank as the majority partner of the company with 80% of the shareholding, in addition the minority shareholders increase their participation obtaining a 19, 99% of the new company.
After the meeting of shareholders the shareholding of Nueva Pescanova was distributed as follows: Pescanova S.A. 20%, CaixaBank 15.55%, Banco Sabadell 14.46%, Popular Group 9.17 &, HSBC Bank 8.93%, Abanca 8.19%, Banco Bilbao Vizcaya Argentaria 6.25%, SPV Global 5.84% , Bankia 4.59%, UBI Banca 4.14%, other 2.88%.
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