- May 28, 2013
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Wouldn't the 25% stake just come from ENICs overall share?
They currently own 86.58% so if they sell they 25% ENIC would end up with 61.58%. I don't imagine that it would have much more effect than that.
The only thing Joe Lewis/Daniel Levys separate shares in ENIC would likely affect is the amount each party would receive from the deal.
This would surely be the case wouldn't it with a minority sale?
Im sure both scenarios are possible. The ownership percentages of THFC by ENIC stay the same. Or one party could reduce their share.
Person 1 wants to buy 25%
They don't care who agrees to sell their shares. DL, JL, or both to meet the 25%
Indeed.
The difficulty in predicting how a sale would be organised if the major shareholders have different objectives is that there will certainly be shareholders agreements in existence between them, yet we have no idea of the detail of the contents.
They will certainly restrict some of each shareholder’s freedoms, and also create protections for each party.
It makes it hard to predict what a sale of a part of the total would look like.