Brief: Pescanova announces merger and double segregation project

Pescanova SA

20/08/2015 13:48

Aug 20 (Reuters) - Pescanova SA  PVA.MC : 
    * Announced on Wednesday a merger and double segregation 
project formulated in order to comply with the conditions of 
arrangement with creditors 
    * Under terms of the project Pescanova (PVA) will absorb  
Frigodis SAU, Pescafina SA, Pescafresca SAU, Bajamar Septima 
SAU, Frinova SAU, Pescafina Bacalao SAU, Fricatamar SLU, 
Frivipesca Chapela SAU and Pescanova Alimentacion SAU 
    * PVA will segregate its tangible and intangible assets and 
business entities (without insolvency debts) of the absorbed 
units in favour of PVA's wholly owned unit Pescanova Espana SLU 
    * PVA will segregate its comprehensive business entity, its 
shareholding in Pescanova Espana, international units and 
Harinas y Semolas del Noroeste SA, Novapesca Trading SL and 
Insuina SL, among others in favour of its wholly owned unit 
Nueva Pescanova SLU 
    * Under terms of the project PVA will be a sole shareholder 
of Nueva Pescanova and Nueva Pescanova will carry out a share 
capital increase to give PVA shareholders and creditors of 
subsidiaries access to Nueva Pescanova capital 
 
     
  
     
 Source text: http://bit.ly/1E6NsOl 
     
 Further company coverage:  PVA.MC   
    
 
 
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