Gerard Lopez, an investor in SAD do Boavista, has owned 50.78 percent of the company’s share capital since last July 28. According to available documents, the acquisition, which was revealed on Thursday, indicates an increase in participation that has led CMVM to force Luxembourg Proceed with a public takeover (OPA) offer About the sadness of the leopards.

The businessman, who controls SAD axadrezada through the ‘Jogo Bonito’ group, a company in which he owns 88 percent of the company’s share capital, at the end of July acquired 1,279,596 shares (36.56 percent) of Boavista Clube and 497,704 (14.22 percent) of BFC Investimentos. Through this process, Boavista Clube now owns only 10 percent of SAD’s share capital (350,000 Class A shares). It should be noted that the shares sold by the club become Class B shares, but if chess players repurchase them in the future, they will be automatically converted into Class A shares, which, among other things, grant veto power.

After the acquisition work was revealed by a “private document” and with Gerard Lopez as the majority shareholder, according to information previously provided by CMVM, the entrepreneur will now have to launch OPA.