Pescanova, S.A.

PVA

ES0169350016

Fishing & Farming

Market Closed - BME Other stock markets 16:35:15 13/05/2024 BST			5-day change	1st Jan Change
0.388 ^EUR	-1.27%		-2.02%	+89.27%

2023	Pescanova, S.A. Reports Earnings Results for the Half Year Ended May 31, 2023	CI
2023	Spain's Abanca, Canada's Cooke in talks over stake in Nueva Pescanova	RE

Spain's Abanca, Canada's Cooke in talks over stake in Nueva Pescanova

April 13, 2023 at 01:31 pm

(Reuters) - Spanish bank Abanca on Thursday said it had entered exclusive talks with Canadian firm Cooke Inc regarding the sale of 80% of its stake in fishing firm Nueva Pescanova.

Abanca did not reveal the size of the transaction but said in a statement it would justify a future Nueva Pescanova valuation at around 800 million euros ($881 million).

Nueva Pescanova was founded in 2015 after a group of banks took control of bankrupt firm Pescanova, which had filed for insolvency after auditors uncovered debts of 3.6 billion euros in one of Spain's biggest bankruptcies at the time.

Abanca now owns a 97.8% of Nueva Pescanova.

Canada-based Cooke Aquaculture Inc is seafood company with salmon and sea bass farms.

Nueva Pescanova would keep its headquarters in Vigo and Abanca would keep 20% of its stake in the company in any deal, the bank said.

($1 = 0.9079 euros)

(Reporting by Joao Manuel Mauricio in Gdansk; editing by Jason Neely)

Latest news about Pescanova, S.A.

Pescanova, S.A. Reports Earnings Results for the Half Year Ended May 31, 2023	31/07/23	CI
Spain's Abanca, Canada's Cooke in talks over stake in Nueva Pescanova	13/04/23	RE
Pescanova, S.A. Reports Earnings Results for the Full Year Ended November 30, 2022	29/03/23	CI
Pescanova, S.A. Reports Earnings Results for the Half Year Ended May 31, 2022	31/07/22	CI
Pescanova, S.A. Auditor Raises 'Going Concern' Doubt	31/03/22	CI
World's first octopus farm stirs ethical debate	23/02/22	RE
Pescanova, S.A. Reports Earnings Results for the Full Year Ended November 30, 2021	29/01/22	CI
Pescanova, S.A. Reports Earnings Results for the Half Year Ended May 31, 2021	30/07/21	CI
Pescanova, S.A. Reports Earnings Results for the First Quarter Ended February 28, 2021	21/04/21	CI
Pescanova, S.A. Reports Earnings Results for the Full Year Ended November 30, 2020	04/02/21	CI
Sturrock Grindrod Maritime Holdings Proprietary Limited acquired Novagroup Ltd from Pescanova, S.A..	01/10/18	CI
Broadbill Investment Partners, LP acquired an additional 7.9% stake in Pescanova, S.A.	21/03/17	CI
Pescanova, S.A Announces Executive Changes	24/02/17	CI
Pescanova, S.A. Auditor Raises 'Going Concern' Doubt	30/03/16	CI
Marine Harvest ASA (OB:MHG) completed the acquisition of substantially all assets of Acuinova Chile S.A. from Pescanova, S.A. for approximately $130 million.	22/12/14	CI
Marine Harvest ASA (OB:MHG) entered into an agreement to acquire substantially all assets of Acuinova Chile S.A. from Pescanova, S.A. for $120 million.	14/09/14	CI
Conservas Y Frigorificos Del Morrazo S.A. acquired Lafonia Sea Foods S.A. from Pescanova, S.A.	14/08/14	CI
Pescanova, S.A. Auditor Raises 'Going Concern' Doubt	27/05/14	CI
Pescanova SA announced that it expects to receive €125 million in funding.	30/04/14	CI
Cooke Aquaculture Eyes Pesca Chile	13/01/14	CI
Damm Reportedly Places €250 Million Offer To Acquire Pescanova	10/12/13	CI
Maruha Nichiro Seafoods, Inc. acquired 50% stake in Austral Fisheries Pty Ltd from Pescanova SA for €29.5 million.	04/12/13	CI
Pescanova SA : Pescanova executives ordered to put up $1.6 billion against claims	02/09/13	RE
Pescanova SA : Insight: Failure of Spain's Pescanova lifts lid on culture of secrecy	26/04/13	RE
Spain's Pescanova seeks insolvency amid boardroom fight	05/04/13	RE

Chart Pescanova, S.A.

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Company Profile

Pescanova SA is a Spain-based company primarily engaged, through its subsidiaries, in the fishing industry. The Company comprises the farming, capturing, cleaning, cutting, freezing, processing and packaging onboard factory-ships, as well as the transport, distribution and marketing of a variety of fish products. The Companyâs activities are structured in three business areas: Wild Catch, where fish and shellfish are processed and frozen immediately after being caught; Farmed Fish, mainly involved in aquaculture operations and the development of technology for the fishing activities, and Food Products, which offers deep-frozen fish and shellfish products. The Company is a parent of Grupo Pescanova, a group which comprises a number of controlled entities with operations established worldwide. In March 2013, the Company entered bankruptcy proceedings. In December, 2013, the Company completed the sale of a 50% stake in Austral Fisheries Pty Ltd to Maruha Nichiro Seafood Inc.

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Fishing & Farming

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Sector Other Fishing & Farming

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