Three investment funds interested in recapitalization of bankrupt Pescanova

Monday, January 13th 2014 - 07:15 UTC

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The bankrupt Galician multinational Pescanova has three proposals for its recapitalization: one from Damm, Luxempart, KKR and Ergon Capital Partners; another from Centerbridge and Bluecrest investment funds, and a third one from the major domestic creditor banks, according to reports from Vigo. Read full article

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ChrisR
The CC.OO. Union Head of Supply, Francisco Vilar, pointed out that although workers “don’t know what is being cooked on the negotiation table” between creditor banks and Pescanova, “they prefer an industrial partner,” such as Damm.

He explained that the funds “may make further cash injection to take short-term profitability, with no intention of continuity, which in the end is profiteering.”

Don’t you just love the smell of idiocy in a Union Official? This twat should be nicknamed Red Robbo after the guy who helped the incompetent management of British Leyland crash the company, he fits the profile perfectly.

Stuff the fact that any investor needs to protect his investment and will want to make a profit as well and to do that will require a workforce. However, if the workforce is like this idiot they don’t deserve a job.

Wasn’t this outfit robbed to the point of collapse by its own management and the Chairman asked the banks for a ONE BILLION EURO LOAN to keep going?

Ha, ha, ha, another Spanish fuck up!
Jan 13th, 2014 - 04:22 pm - Link - Report abuse 0
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