date:Mar 21, 2014
Pescanova SA, the Spanish fishing company trying to avoid liquidation, offered creditors a larger equity stake in exchange for additional capital under a modified restructuring proposal.
The plan proposed by shareholders Damm SA, the Spanish brewer, and Luxempart SA, allows lenders up to 65 percent of shares in a restructured business, up from 35 percent in the original proposal published March 4, according to a filing yesterday. The share sale seeks as much as 62.5 million euros ($86.2 million