Globo Esporte Futebol reports that Botafogo is waiting for judicial recovery approval to sell SAF to GDA. The club social has acquired 99% of the SAF Botafogo shares, with GDA acting as an investor even before the transfer of shares. The CEO Eduardo Iglesias is responsible for the main negotiations. The sale will be concluded after the approval of the SAF Botafogo's judicial recovery plan, which requires a 51% majority vote from creditors. This approval is expected to be granted this year, paving the way for the transfer of shares to GDA.
Botafogo Awaits Judicial Recovery Approval for SAF Sale
Botafogo is waiting for judicial recovery approval to sell SAF to GDA, according to Globo Esporte Futebol. The club social has become the owner of 99% of the SAF Botafogo shares.
This article was assembled with AI assistance and editorially reviewed.
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