<article><p>Chinese conglomerate Legend Holdings Corp. is among companies considering bids for a majority stake in Spanish frozen-seafood seller Grupo Iberconsa, people familiar with the matter said.</p></article>

<p>Chinese conglomerate Legend Holdings Corp. is among companies considering bids for a majority stake in Spanish frozen-seafood seller Grupo Iberconsa, people familiar with the matter said.</p>
<p>The Beijing-based firm has been speaking with advisers about a possible offer, according to the people, who asked not to be identified because the details are private. Pamplona Capital Management is also weighing a bid for Iberconsa, which could be valued at about 600 million euros ($698 million), the people said.</p>
<p>Deliberations are at an early stage, and there’s no certainty they will proceed with offers for the business, the people said.</p>
<p>Madrid-based private equity firm Portobello Capital bought a majority stake in Iberconsa in 2015. An acquisition of Iberconsa &#8212; which sells wild-caught hake, monkfish and squid &#8212; would allow Legend to expand the offerings of its food and agriculture unit Joyvio Group.</p>
<p>Legend formed KB Food, a joint venture with Australian fish seller Kalis Bros, in 2016. One of the conglomerate’s publicly-traded units, Joyvio Agriculture Development Co., bought Qingdao-based seafood importer Starfish last year.</p>
<p>A representative for Legend said he hasn’t heard of the transaction and declined to elaborate. A representative for Pamplona declined to comment, while representatives for Portobello and Iberconsa didn’t immediately reply to requests for comment.</p>
<p>Chinese acquisitions in Europe have roughly doubled this year to $49.2 billion, even as the Asian country’s dealmaking in the U.S. plunged amid tightened regulatory scrutiny. Last month, Legend completed the $1.8 billion purchase of a controlling stake in Banque Internationale a Luxembourg SA, one of Europe’s oldest privately held banks, according to data compiled by Bloomberg.</p>
<p>Legend, led by Chinese entrepreneur Liu Chuanzhi, is the biggest shareholder in Chinese laptop maker Lenovo Group Ltd. with a 29 percent stake, the Bloomberg-compiled data show. It also controls venture capital fund Legend Capital and buyout firm Hony Capital.</p>
<h4>Bloomberg</h4>


Chinese conglomerate Legend Holdings Corp. is among companies considering bids for a majority stake in Spanish frozen-seafood seller Grupo Iberconsa.

China’s Legend Holdings mulls bid for Spanish seafood seller Iberconsa

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China’s Legend Holdings mulls bid for Spanish seafood seller Iberconsa

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