Sporting is already looking for new investors for SAD following the repurchase of VMOCs (mandatory convertible securities) held by Novo Banco (51,416,952) for €15.4 million, which allowed the club to increase its participation in SAD’s share capital to 88%.
This operation was carried out through an advance of the proceeds of the contract with Nos through Sagasta in another financial act also communicated to the CMVM, resulting in a “net global increase of approximately €50 million compared to the previous operation.”
The amounts of this transaction with Novo Banco increased the amounts associated with the repurchase of Millennium BCP securities carried out in March 2022 (by EUR 14 million) by EUR 9 million, to a total amount of EUR 23.7 million.
In total, the Lions spent 38.67 million euros, but without debt forgiveness and taking into account the cost of one euro per VMOC, Sporting would have to pay 135 million euros. After all, they saved 96.33 million euros.
Author: Mario Figueiredo
Source: CM Jornal
I’m Dave Martin, and I’m an experienced journalist working in the news industry. As a part of my work, I write for 24 News Reporters, covering mostly sports-related topics. With more than 5 years of experience as a journalist, I have written numerous articles on various topics to provide accurate information to readers.