The two parties previously finalised a confidentiality contract which impedes the sharing of some of the details, but it is assumed that Lim will repay in full Fundacions loan of around
The original offer was one of the most elaborate, consisting of over 500 pages, and including a financial plan that would see the repayment of the loan happen in a much faster pace. The agreement now made is said to be extremely complex and it is financially very different from what was in Lim s original offer. What that means is that the FundaciÓn have to do another vote to sanction the final offer, after having unanimously supported the Lim bid in the first vote.
This is a consequence of the decision to move forward with the sale of the shares without including the debt, effectively leaving Bankia out of the decision process. The 16 of May, Bankia already warned FundaciÓn that any winner would have to discuss the debt with them. As such, the FundaciÓn have already made all the required preparations and it is not predicted to cause any issues. Next, the offer will require to be sanctioned by the protectorate for FundaciÓns, normally a mere bureaucratic step.
The club and FundaciÓn quickly released a statement, welcoming the agreement and stating their satisfaction with the result, however reserving the right to further comment after knowing more details.
It is unclear whether this now means the club is immediately unlocked from the restraints related to transfers, or if there will still be a long wait before rumours can be turned into action. While the final sanction of FundaciÓn is thought to happen in the third week of this month, several newspapers claim that Lim want to present his first transfer already next week. Lim s strong ties to superagent
Most Popular Stories
- Cantwell Targets Gender Gap in Small-Business Loans
- Chrysler Gets Nod as a Top Employer for Hispanic Women
- Hispanic Entrepreneurs Set Pace in Florida
- Perry's Lawyers Try to Close Abuse Case
- South Korea's Kia to Invest $1 Billion in Mexico
- FBI Probes JPMorgan Hack
- What's the Law for Kids at Gun Ranges?
- Mario Lopez Inks New Clear Channel Deal
- Apple Loses Bid to Block Sales of 9 Samsung Phones
- Health-care Deal Aids Port Contract Talks