Brief: FC Porto Expects Signing Of Contract With International Company To Take Place During April

Futebol Clube do Porto Futebol SAD

03/04/2024 06:31

April 3 (Reuters) - Futebol Clube do Porto Futebol Sad
 FCPP.LS :
    * SAID ON TUESDAY EXPECTS SIGNING OF CONTRACT WITH
INTERNATIONAL
COMPANY TO TAKE PLACE DURING APRIL, ALTHOUGH PAYMENT MAY NOT BE
MADE IN FULL AT TIME OF SIGNING
    * CONTRACT WILL BE RECORDED IMMEDIATELY AND FOR FULL AMOUNT
(BETWEEN 60 AND 70 MILLION EUROS) IN CO'S ACCOUNTS
    * PARTNERSHIP WILL CONSIST OF MINORITY STAKE OF UP TO 30% IN
A NEW
COMPANY WHOSE PURPOSE WILL BE TO EXPLOIT COMMERCIAL REVENUES
DIRECTLY RELATED TO ESTADIO DO DRAGAO
    * SINCE THIS COMPANY WILL BE PART OF FC PORTO - FUTEBOL,
SAD'S
CONSOLIDATION PERIMETER, VALUE OF CAPITAL INJECTED WILL BE
INCLUDED IN CO'S CONSOLIDATED ACCOUNTS
    * FC PORTO'S PARTNER COMPANY WILL RECEIVE A SHARE,
PREDICTABLY 30%
BY WAY OF DIVIDENDS, OF PROFIT GENERATED BY THESE DEALS, WITH
FULL RISK SHARING
    * WITH REGARD TO POSSIBLE NEW FINANCING, CO IS STILL IN
NEGOTIATION PHASE AND THEREFORE CANNOT FINALISE DETAILS OF
OPERATION, SUCH AS INTEREST RATES AND/OR ASSOCIATED COUNTERPARTS
    * CLOSING OF THIS DEAL IS NOT GUARANTEED AT THIS TIME

        
 Source text: https://tinyurl.com/4tc59uuv
 Further company coverage:  FCPP.LS  

 (Gdansk Newsroom)
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