Madrid analysts skeptical about a Pescanova comeback to stock market


Bourse analysts canvassed by Undercurrent News have few hopes for the more than 10,000 small shareholders left in limbo since Pescanova’s shares were suspended a year ago (more…)

Pescanova enters critical phase

Seafood group’s future will be known on April 15, the day which will reveal whether creditor banks agree on Damm-led restructuring plan, or decide to let the company enter liquidation

Five banks submit alternative rescue plan for Pescanova

Creditors materialize threats with rival plan submitted to Deloitte, which would kick in if Damm-led bid fails to garner 51% of creditors’ support

No plan B from Damm for Pescanova amid creditor banks’ plotting


Carcellers keep iron-clad attitude about future of bankrupt Spanish seafood business, even when pitted this week against some of country’s most powerful banks (more…)

Damm’s focus is on Pescanova Spain, then holding onto Chilean farms

The consortium behind the only rescue program accepted by the board and passed by the Spanish civil courts on March 20, assured it will continue maneuvering to retain subsidiary Pesca Chile

Pescanova’s Fernandez slapped with €200,000 fine

Manuel Fernandez de Sousa Faro

Regulator fines Pescanova and Manuel Fernandez de Sousa Faro €100,000 and €200,000 respectively for filing misleading information (more…)

Pescanova launches legal offensive to stop Acuinova sale

Chairman warns he intends to start legal battle to prevent sale of its Chilean salmon subsidiary, Acuinova

Damm, Luxempart: More debt for banks would be opportunistic but hopeless


Pescanova’s majority shareholders send a combative message against those creditor banks which have campaigned for the future restructured Pescanova to hold at least €1 billion in debt (more…)

Damm: We saved Pescanova from liquidation but Pesca Chile bankruptcy unstoppable

Damm confirmed to Undercurrent News that its bid, supported by the main lender banks to Pescanova, was the only plan to meet the March 3 deadline

Pescanova board approves improved rescue bid from Damm; banks could own 60%-70%

Frinova Pescanova

Proposal, which would command a debt write-off of ‘just’ 60-70%, is sole rescue bid to be presented, and will need approval from at least half of the creditors (more…)

Pescanova’s former chairman accused of taking €6m

After investigations, Spanish police has submitted two reports on the Spanish multinational management, accusing it of alleged fraud

Chadwick denies agreement to stop Pesca Chile sale

Spanish media reported yesterday Pescanova’s Chilean subsidiary  could not be sold until March 3, but bankruptcy trustee Herman Chadwick denies the agreement (more…)