Several days ago we reported that only international investors could save Pescanova from bankruptcy.
And that near impossible has happened, twice. The investors KKR and Albert Frére (through Ergon Capital) have joined Damm and Luxempart, two of Pescanova's major shareholders, with an aggressive offer.
KKR is not a new name in Spain. The company owns part of the company T-Solar, Inaer and Uralita in addition to its recent purchase of Port Aventura. With the addition of Albert Frére, who is the richest man in Luxembourg and an Iberdrola partner, and Pescanova's future is guaranteed. The only step remaining is to finalize the bank's debt forgiveness deal, which is almost certain to happen without a hitch.
