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Document signed by Inversiones Alpes, a company with which Heller controls the club and financial advisor, gave an account of the deadline that was set.
A month of profound changes is coming at Azul Azul, the concessionaire that manages the soccer branch of the University of Chile. And it is that as reported by Diario Financiero a few weeks ago Carlos Heller, maximum shareholder and controller of the company accepted the offer of a local investor to sell 63.07% of the club’s shares through a Public Offer for the Acquisition of Shares (OPA), operation that would take place at the latest on September 25.
This is stated in a document sent by Redwood Capital, the buyer’s financial advisor, to Inversiones Alpes, an investment vehicle with which the entrepreneur invests in Azul Azul, in which asks to modify the deadline of the agreement in order to have more time to finalize the last details of the process that will mark the end of the Heller cycle in the U.
“Once this offer is accepted, the contract will be signed once the parties agree on its terms, a date that may not be beyond Friday, September 25, 2020,” says text dated September 4, which was approved with the firm of the executives of Inversiones Alpes: Ana Bull and Rodrigo Veloso.
According to figures from the Santiago Stock Exchange (BCS), Azul Azul’s share is listed on the market at $ 594, Therefore, the share package of the businessman linked to the Bethia group is valued at about $ 16,740 million (around US $ 21.7 million to the dollar of yesterday).
But there is an issue that worries minority shareholders, since the price to offer for each security will beto under $ 400, given that the new buyers are acquiring a club that has suffered financial problems for a few years, added to the fact that a part of the operation would consider taking over a bank loan that the club has.
Of According to the 2019 report of Azul Azul, the company has maintained a loan with Banco Santander since 2018 for the sum of $ 5,090 million, which has a maturity date on December 11 of next year.
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