April 13, 2023 — Betanzos, Spain-based bank Abanca entered an agreement to negotiate the sale of an 80 percent stake in Nueva Pescanova to Canadian seafood conglomerate Cooke Inc.
The exclusivity agreement, signed on Thursday, 13 April, places the valuation of the Vigo, Spain-based vertically integrated seafood firm at EUR 800 million (USD 884 million). The agreement requires Pescanova to continue to be headquartered in Vigo.