Spanish court approves banks' takeover of Pescanova

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Spanish class="mandelbrot_refrag">fishing company Pescanova came out of administration on Friday after a court approved a deal with creditors that leaves the company in the hands of its class="mandelbrot_refrag">banks.

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Pescanova - which filed for class="mandelbrot_refrag">bankruptcy last year - will be controlled by creditors including Spanish class="mandelbrot_refrag">banks Sabadell, Popular, Caixabank, BBVA, NCG Banco and Bankia.

Under the deal proposed by the banks, and accepted by the court, creditors will retain 1 billion euros ($1.36 billion) of debt and will inject 125 million euros of capital into the company, the frozen fish products of which are among Spain's best-known brands. ($1 = 0.7336 Euros) (Reporting by Emma Pinedo; Editing by Fiona Ortiz and David Goodman)

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