ABANCA Corporacion Bancaria, a lender based in the Galician region of Spain where Grupo Nueva Pescanova also hails from, has reportedly made an offer of €200 million ($259.11m) for the company, according to reports in the Spanish media.
Abanca controls 39.3% of Pescanova, having gone from 5.4% to the current level in the last year and a half, but wants to take this to 92%. This would mean Abanca buys out Sabadell (24.5%), Caixabank (15.3%), Bank of America (9%) and Brookfield Asset Management (4%), which total 52.8%, reports the Atlantico.
According to Cinco Dias, which first reported the story, Caixabank is pushing for an increased offer from Abanca, which wants to take control and then launch a new strategic plan for the company.
Abanca would also like to appoint a new board and president, removing Jacobo Gonzalez Robatto, the news site states [...]
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