I don't know about Coleridge but it seems to me that we are as follows -
!. WPL say we have bt. 35 % of the JV - so register that please.
2 . Authority says - not so fast because FAR dispute the sale - and in any case Senegal Govt. must approve.
3. WPL carry on as if sale is done & pay sale money to COP.
4. FAR lawyers lodge their objection to sale with right people.
6. COP happy - they have their money. WPL very nervous - this is costing them money. FAR happy - time on their side big tm
Eventually sale not approved so WPL pay back money to COP who remain JV partner ?
To PE or not to PE, page-49
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