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Freiremar’s financial aid to subsidiaries caused €70m loss

The group's financial accounts were managed using cash pooling from 2010 onwards, a decision made by chairman Manuel Freire Veiga, who later on closed factory in Vigo and fired 101 employees

By Undercurrent News | May 15, 2014 07:46 BST
Freiremar's financial aid to subsidiaries caused €70m loss
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Freiremar's financial aid to subsidiaries caused €70m loss

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Auditor firm Sanchez y Marichalar said investments and loans to subsidiaries of the fishing group Freiremar by the parent company had caused a deterioration of its balance sheet estimated in some €70 million, Faro de Vigo reported [...]

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