Banks issue ultimatum to fish farming companies

Fish farm stocks suffered significant losses on the Greek bourse on Friday as banks are reported to have delivered an ultimatum to the companies in the sector, telling them to settle their debts or hand over their management.

The debts of listed pisciculture companies to local banks add up to 540 million euros, according to estimates, compelling bankers to take a joint approach toward the mounting debts and apply pressure on the sector.

On Friday the stock of Nirefs shed 7.23 percent, while Selonda Aquacultures contracted by 2.19 percent.