The sale of the development areas at Herdade da Comporta, scheduled to be announced on Friday July 27th, has been postponed with the announcement of new deadline for proposals of September 20th.
The shareholders’ meeting that was to decide on the sale of sell two tourist areas at the former Espírito Santo clan's playground was postponed and a new meeting scheduled for September 28th.
The decision to delay the meeting was taken by Novo Banco and Rioforte, which together hold 74% of the fund that controls the assets.
The reason was that all those interested in buying the assets should have full access to the information held by the estate’s management company, Gesfimo, so that the applications can be judged on an equal basis.
Also, the creditors and shareholders need more time to look closely at those interested in owning the estate's assets after allegations that one of the bidders, Mark Holyoake, did not have the required financial backing in place.
The general meeting last Friday was scheduled to, "consider the financial situation of ‘Herdade da Comporta - Fundo Especial de Investimento Imobiliário Fechado’ and to deliberate on the proposed acquisition of the main assets.
Gesfimo, the management company, had selected a short-list in May, with Oakvest, Portugália and Sabina Estates all in the frame but none of these bidders have had the change to carry out due diligence.
The deal involves the Public Prosecutor's Office, as Rioforte’s assets are frozen, the Councils of Alcácer and Grândola, and with the Ministry of the Environment.
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Sept 5th, 2018
There is a petition set up by Comporta.Utopia - cick HERE
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