After canceling its plan Abanca will go to the expansion of Nueva Pescanova
Tuesday, January 26, 2021, 20:20 (GMT + 9)
With 88.40% of the shares after recently acquiring a 7.94% stake in Merrill Lynch-Bank of America
Abanca will attend the next voluntary capital increase of Nueva Pescanova, of which it is the majority shareholder, with 88.40% of the shares after recently acquiring 7.94% of the participation of Merrill Lynch-Bank of America, reported the financial institution in a statement.
The Nueva Pescanova board of directors announced last week the call to its partners and creditors to carry out a voluntary debt capitalization in order to ensure the future viability of the company and the fulfillment of its business plan.
This decision was produced as a result of the judgment of the Commercial Court 1 of Pontevedra that annulled the approval of the refinancing agreement of the company with Abanca and other creditors, considering that it was not adopted with the majorities requ... FULL STORY