In the middle of the scandal in the aeronautical sector by the agreements that the French Airbus made in the world, to pay successful commissions for the sale of its airplanes, and that in the case of Colombia links since 2014 a senior executive of Avianca Holdings, businessman Germán Efromovich made strong revelations about the legal confrontation he has with Roberto Kriete, owner of Kingsland Holdings, to maintain shareholding control and also to regain control in the company’s decisions.
Recognizing that it will be very difficult to regain control of the company, but that for this he is fighting in court in New York, the executive said that such a judicial process should not exist and that he considers it illegal, then, in his opinion, In a Machiavellically intelligent way, Kingsland, protected by United, is wanting to take the company for free.
We are unmasking all that, and we must release, within two or three weeks, a very detailed work on all this and its illegalities
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“We are unmasking all that, and we must release, within two or three weeks, a very detailed work on all this and its illegalities. Because United would only be entitled to collect its debt and if there was a failure – technical default (the share price fell below a level established in the loan contract) – United could accelerate and collect its debt, ”he said.
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According to the manager, United knew that this default could occur and that there was a whole planning, “an agenda behind”, since it is not logical that Kriete first came out to say that the company was broken and, after two months, “They go out to give him a loan of 250 million dollars. ” “Who makes a loan of that amount to a broken company?” He asked.
And he added that while United is asking for the auction of the actions, “the judge is realizing what they planned, and is already taking some positions in defense of whether the process is suspended or done transparently, without going to these games to appropriate in an intelligent way within the contract, but totally immoral. ”
Secrets of the pulse with Kriete
And it is that in addition to updating the status of the process in New York, Efromovich revealed secrets of how, from his perspective, he changed the position of Kingsland Holdings once purchase offers began to arrive from Avianca Holdings, several years ago, process that ended in the negotiation of the commercial agreement signed by Avianca Holdings, United and Copa Airlines.
(Also read: Avianca Holdings sets rate scheme for international destinations)
“Do not forget that Kingsland was against the alliance with United, because they wanted to force me to sell to Delta, because that way the Kingsland share price at Avianca Holdings was higher, ” Indian.
Therefore, according to the businessman, Kingsland sued him, his brother and the same company, “but when we were negotiating the agreement with United, the latter made an agreement with Kingsland in which, no matter how much the Avianca share, and also guaranteed by Synergy (Efromovich’s company), will pay you $ 12 for each ADR (share in New York).
“This man has nothing to lose. So, saying that the company is broken does not bother you but, on the contrary, brings you more benefits because you can buy more shares at a lower price. After pointing out that since the day he lost the voting power in the company “they didn’t let me in or take out my things,” Efromovich questioned the suitability of Kingsland Holdings.
“The most important thing is not to allow them to take over something they haven’t built, because who in Kingsland? We took them out of bankruptcy when we did the merger (with Taca), we lent them $ 40 million before signing the contract because they had not endured more than two weeks. We built this company, and Mr. Kriete did not come to the board of directors for the last two years and now he comes to say that he was the hero, if he never did anything, ”he said.
He also revealed that the bankruptcy of Ocean Air (which operated under the Avianca Brasil brand) finally occurred because in the middle of the joint venture (trade alliance) and the relevant negotiations with United, the American was going to invest 150 million dollars, but at the last minute she gave up and “we didn’t have more time to look for financing.”
“United also has an investment in a competing company in Brazil, which is Azul. There people in Brazil had to decide between paying Elliot and saving the trade agreement with United, which did interest him and I think Avianca is still interested” .
On the Avianca Holdings-United and Copa Airlines alliance, he said it would have to prevail because it is very good.
The case of purchases from Airbus
On the scandal of the bribes of Airbus, Efromovich said that in all purchases of aircraft the negotiations were made directly by the dome of the company, that is, Synergy (Efromovich), as majority owner; the president of the company, Fabio Villegas or Hernán Rincón, and Gerardo Grajales, former executive president of Strategic Businesses, so there was no need for intermediaries.
“If Airbus paid someone, it was an imbecility, ”he emphasized.
That is why he said that if he were in charge of the company, he would immediately request the authorities of France to provide the name of the person who was allegedly involved in surreptitious dealings with an Airbus representative in Colombia, and that he would fire him without regard.
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