Mr. Horacio Cartes will completely withdraw from any shareholding in Grupo Cartes, in order to preserve 10,000 direct jobs and 150,000 indirect jobs.
In a initiative of Horacio Cartes what’s wrong with it directly related to the importance of supporting the source of work of some 10,000 collaborators linked to companies throughout the countryHorace Cartes will be completely removed from any direct or indirect shareholding, and will also cease to be the ultimate beneficiary of the group companies and all their affiliates and subsidiaries.
The transfer of shares will be made under the legal advice of national and international specialists, in a framework of absolute transparency.
The decision It will also allow Mr. Cartes, a greater operability to face his administrative and legal response tasks before the United States authorities and at the same time, overcome the impediments that may exist for the normal functioning of the companies of the Cartes Group.
This, given the decision of the United States Department of the Treasury, to include the former president in OFAC’s list of sanctioned persons (SDN), which implies the blocking of his assets under the jurisdiction of the United States and prohibits American persons from enter into transactions with the offender.
These measures legally have limited jurisdiction and scope, but in practice, their adverse effects expand and affect all the companies in which Mr. Horacio Cartes has a shareholding, making it difficult for him to access the financial system and his international business relations. affecting their competitiveness.
The Cartes Group is characterized by its high focus on people, and the priority in this context is the 10,000 direct employees and the 150,000 indirect employees.
In the context of the economic crisis that the country is experiencing, where people need opportunities and workthe founder prefers to retire from companies, to ensure the well-being of thousands of families that are labor-related to the ventures.
“We trust that these measures will be favorably received, so that the Group companies return to their normal operation,” the statement said. The Cartes Group will assume all adjustments to comply with the objections and sanctions raised by the United States authorities.
