Zivanaris: 'The Brazilian proposal was not an investment'

The president of APOEL, Kyriakos Zivanaris, referred to the proposal of the Brazilian investors during the General Assembly of APOEL at Pavillion Hall.

Mr. Zivanaris clarified: 'The association was faced with a situation that you all know. The Company brought a proposal and we were told that if it is not signed, the viability of APOEL will be at risk. On our own initiative, we contacted the representatives of the investors directly. When we were asked to sign the document, our position was clear. This document could not be submitted for approval. The proposal was not about investment, but about borrowing. The legal aspects were obvious. Long-term viability was not guaranteed. Our decision was a one-way street. We did not reject the investors, but the specific proposal.'