Abanca’s president, Juan Carlos Escotet, referred this morning to the complex liquidation process of the multinational Nueva Pescanova, in which the organization owns approximately 98% of its capital. I did this by using the process Cooke Inc. He did so at the Vigo Global Summit, organized by Zona Franca, where there was no pressure to formalize it. “Don’t rush”settled down.
Escotet impressed Abanca’s refusal to sell in parts “as the funds requested”, so as not to destroy the “essence” of the company. “We have a treasure,” he added.
Abanca and Cooke reached an agreement for the sale of Nueva Pescanova last April. Founded in New Brunswick, the holding owns 80% of the group’s capital, while holding 20% of Abanca’s shares. It was Prensa Ibérica’s Faro de Vigo newspaper that was the first to advance negotiations with this American firm.he eventually prevailed over the Red Chamber’s and above all Iberconsa’s bids.
Abanca then announced an agreement to “negotiate the sale exclusively” for an undeclared amount.. “In the coming weeks, the usual negotiation process for this type of transaction will proceed with the aim of reaching an agreement for the majority of Nueva Pescanova to be acquired by one of the world’s leading family-owned marine protein companies,” the organization said. It is chaired by Juan Carlos Escotet, who is currently cooling the negotiations and assuring that he is in no hurry.
Thanks to this agreement, Pescanova maintained its registered office in Galicia.