Redondela, Spain – A group of shareholders led by Barcelona-based brewer Damm on Thursday seized control of troubled multinational fishing group Pescanova.
The proposal presented by Damm, Luxembourg-based financial holding company Luxempart and Spanish private equity firm Iberfomento at a Pescanova emergency shareholder meeting garnered 70.82 percent of a total of 11.02 million votes.
With Damm's bid to install a new board of directors securing a large enough majority, there was no need for a vote on an alternative proposal by another group of shareholders led by U.S.-based Cartesian Capital.
Based in northwestern Spain's Galicia region, Pescanova employs more than 10,000 people worldwide and is Europe's leading frozen-fish producer.
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