Preferential treatment to minor shareholders annoys Pescanova’s board
Factory that belongs to Pescanova. (Photo: Pescanova)
The Galician multinational firm Pescanova will become Nueva Pescanova in a few months, a new partnership with 80 per cent managed by seven banks and minor shareholders could have access to the remaining 20 per cent.
Creditor banks -- Sabadell, Popular, Abanca, CaixaBank, Bankia, BBVA and UBI Banca -- hold a strict position on the claims of the board to take over the remaining 20 per cent of Nueva Pescanova without providing EUR 7 million, the newspaper La Voz de Galicia reported.
Instead, they would offer preferential treatment to minority shareholders, who own 64 per cent of the undervalued shares in the company.
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