Conflict of interest resolution mechanisms
A related-party transaction is presented to the Practices Committee.
100% independent Practices Committee, analyzes the related-party acquisition.
A mandatory fairness opinion and independent appraisal are required before the Practices Committee issues an opinion and recommends the transaction.
The Practices Committee, based on its analysis, issues an opinion and a recommendation to the Technical Committee about the related-party acquisition.
For the acquisition to be completed:
- Approval by the majority of the Technical Committee and
- The favorable vote by the majority of Independent Members of the Technical Committee are needed.
If either of these requirements are not met, the acquisition is discarded.
Commitments and Related-Party Agreement
Whenever the controlling families sell a Real Estate asset, FUNO has the first right to buy it.
Whenever the controlling families wish to acquire an asset, it must be first offered to FUNO.
There is a commitment from the controlling families to transfer all their Real Estate1 for lease to FUNO.
1 Excludes residential and non-leased real estate.