Sale of Felix Maduro depends on Abdul Waked

THE SALE  of the Felix Maduro, department stores currently in the Clinton List depends ‘exclusively’ of its owner, Abdul Waked says Panama Finance Minister Dulcidio De La Guardia,

The comment came a day after the Bureau of Foreign Assets (OFAC) of the United States Department of the Treasury proposed a series of measures to facilitate the termination of the business relationship of Abdul Waked and Wisa Group with Felix B. Maduro, Importadora Maduro Maduro and International (Felix Maduro Group).

“That solution was facilitated after many weeks and hours of work by the Government. This solution was presented to the Waked group  yesterday afternoon ( said De La Guardia on Thursday June 2. The final decision on whether the Felix Maduro group of companies is maintained and employees saved depends on the shareholders of the company”  said De La Guardia.

“The solution involves the creation of a trust and transfer of ownership of the companies Felix Maduro Group to that trust. All documents are in the hands of shareholders. They Just need to sign them,” saidthe minister.

In a circular, OFAC said it “supports the efforts” of the Government of Panama as a mediator, which has proposed to remove the control of these companies from Abdul Waked and Wisa Group.

In the circular OFAC, it indicated that non-US persons participating in this transaction will not be included in the Clinton List “provided they are participating as independent parties and in good faith”.

The measure seeks, in coordination with the Panamanian government, to protect the jobs of employees in Felix Maduro, once they have left the control Waked and Wisa Group.